Edge IoT Startup Foundries.io Raise USD 8M

Edge IoT startup Foundries.io, a UK-based provider for cloud deployment and development solutions of Edge and IoT devices, has raised USD 8M. The company already has some well-known customers, like MontaVista, Winsystems, Semiconductor, ARM, and more. It has been developing solutions to support different types of hardware that are designed on RISC-V, ARM, and Intel architectures.

As per the report, IQ Capital led the funding round. On the other hand, Crane Venture Partners, as well as Backed VC, participated in the round. Now the total funding for the company is tallied at USD 11.5m.

Established by George Grey from Linaro and ARM’s Ian Drew, the tool developed by the company named FoundriesFactory is a popular open-source channel. It offers the system integrators and OEMs a perfect software platform to create, test, deploy and maintain the Edge and IoT devices. The best part is that the platform offers lifetime support.

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How will the company use the fund?

As per the official sources, the company will use the fun to expand plans through marketing and talent recruitment. CEO of Foundries.io informed that now the industry requires a unique and effective cloud DevOps strategy to the Edge and IoT technology that can enhance the process from software development to deployment. The team’s years of experience and expertise have helped the company to explore new ways to secure and manage the devices. The company believes that advanced and modern software is the most trusted and secure. He further added that FoundriesFactory is designed to offer robust cloud-native results for the development of open source-based software and applications.

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All the OEM and IoT device manufacturers can now combine the hardware technologies with a secure software platform. As a result, they will enjoy the freedom to choose the best cloud server and enterprise software development company.

Managing Partner at IQ Capital, ED Stacey, said that Foundries.io moves towards securing the software functioning on connected devices. The company manages to develop a unique cloud-native and hardware-agnostic system. Using that, OEMs can focus on the applications as well as services. Their devices will remain safe and updated.

It’s all about producing a secure platform

Better device security has emerged as a significant drawback in the process of IoT adoption. This will remain like this due to a short supply of engineering talent. With massive support from the global Tier-1 advocates as well as open-source software developers, Foundries.io will be able to transform the way the IoT equipment or tools are developed, deployed, and managed.

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As per the report, IQ Capital has been dealing with 20 startups to get them connected with major companies like Google, Facebook, Apple, and more. The current deal will enable FoundriesFactory to get integrated with the Linux platform. This will enable all the Linux-based edge IoT devices updatable.

FoundriesFactory offers a highly secure and updateable platform that offers better security features. On the other hand, MontaVista offers different commercial open-source platforms based on Linux to develop IoT software and applications.

Check out this link to explore more about this and how this will help the IoT industry.