Ayla Networks, a global Internet of Things (IoT) platform provider for manufacturers has secured $39 million in a Series C financing round that is led by China venture capital firm, Ants Capital and participated by its existing investors. In 2014, the company raised $14.5 million in a Series B financing round from Cisco and SAIF Partners, one of China’s largest venture capital firm.
The Silicon Valley-based firm claims that it has become the number-one IoT platform provider for manufacturers in many markets, including home appliances, residential and commercial HVAC (heating, ventilation, air conditioning) systems, water heaters, water softeners, and home fire and safety products.
During the past year, the company has announced new or expanded relationships with manufacturing customers that include Changhong, Dimplex, Fujitsu General and others.
David Friedman, CEO and co-founder of Ayla Networks
With IoT clouds operating in multiple regions worldwide, and with major customers continuing to expand their Ayla-powered IoT product lines, Ayla believes that the ‘when’ of the IoT is right now—and that Ayla Networks is well positioned to help manufactures take advantage of growing market for connected products.
Tom Kerber, director of research at Parks Associates
But to get there, manufacturers of connected products need to navigate the complexities of the IoT. Both manufacturers and investors recognize the value of a secure, flexible, scalable and cost-effective IoT platform that meets the needs of today’s market—and that can continue to deliver value over the lifetime of a connected product.
