£5.8m funding ‘to finally secure IoT’
Posted on June 18, 2021 by Jonathan Symcox
A cloud developer for secure IoT and Edge devices has raised £5.8 million in Series A funding.
Foundries.io claims to be the world’s first cloud-native solution for embedded technologies that reinvents the Internet of Things.
It counts tier one OEMs, silicon industry leaders and SoC companies among its customers and partners, including ARM, NXP Semiconductors, MontaVista, STMicroelectronics and WINSYSTEMS.
Led by technology industry pioneers, George Grey and Ian Drew, Cambridge-based Foundries.io has developed a transformative, open source platform that provides OEMs and Systems Integrators a common software base to develop, test, deploy, manage and maintain secure IoT and Edge devices through a single cloud-native solution.
As a result, companies can – for the first time – ensure the lifetime support of connected devices, unlock innovation, and improve speed-to-market while saving time and money.
The Series A funding was led by IQ Capital, with participation from Crane Venture Partners and Backed VC.
It will support Foundries.io’s aggressive expansion plans through both talent recruitment and marketing, to bring this platform to further innovative companies around the world.
“The industry needs a new cloud DevOps approach to IoT that’s built from the ground up to reinvent how software is developed and deployed,” said George Grey, CEO.
“At Foundries.io, our team’s deep expertise and experience has helped us to reinvent how devices are secured and managed.
“We believe the latest software is always the most secure and most trusted, so we have created the FoundriesFactory platform to deliver to the embedded industry an easy to use cloud-native solution for secure open source-based software development and management.
“OEMs can now couple their hardware innovations to a secure, production-tested base software platform, enabling freedom of choice of enterprise software and cloud providers using containerized applications and services.”