Axonize, an Israeli start-up company specializing in IoT services based on Microsoft Azure, said it has secured a substantial investment from Deutsche Telekom.
The $6 million Round A was led by Israeli Venture Capital firm Meron Capital and included existing investors StageOne Ventures and U.S.-based Cornerstone Venture Partners.
Axonize is purpose-built for IoT service providers. Among its unique capabilities is the ability to orchestrate, connect, and manage multiple IoT applications, granting service providers management capabilities across all applications. The company has a unique architecture based on a pre-built, highly flexible AnyAPP™ application layer that resides on a robust and secure Microsoft Azure cloud.
Instead of developing an entire application for every customer, its pre-built application can be customized to specific customer needs. This reduces IoT build time to a handful of days, rather than months, enabling IoT service providers to offer their customers a much higher ROI on IoT projects. Another benefit of the architecture is that Axonize is completely open to any sensor, hardware, protocol, or system from any industry.
Axonize will use the funding from this round to invest in further enhancement of its platform and accelerate the ramp-up of its sales team.