Losant secures $5.2 million in Series A financing to meet surging IoT solutions demand
Losant, a US-based startup that helps enterprises build IoT solutions, prepares itself to meet the surging demand for next generation connected solutions by securing a sum of $5.2 million in a Series A financing round.
Securing the amount, Charlie Key, CEO of Losant, said: “We’re excited to see our platform power intelligent solutions across a gamut of industries and use-cases. Our customers are pushing new boundaries in industrial equipment monitoring, asset tracking, smart buildings, and more. With endless possibilities, Losant is uniquely positioned to help thousands of companies in their IoT journey.”
The round was led by CincyTech. Revolution’s new Rise of the Rest seed fund, TechNexus, and Vine Street Ventures also took part.
Mike Venerable, CEO of CincyTech, said: “Connected experiences are going to transform business and personal experiences for all of us in the next decade. Billions, not millions, of connected devices are being deployed across all domains. Losant's reliable and scalable platform for IoT is being used in an accelerating number of scenarios that represent the connected future.”
JD Vance, Rise of the Rest seed fund managing partner, said: “Losant’s use of next generation IoT solutions has the potential to change every industry and business and the fact that it’s a promising Ohio-grown startup makes it that much more exciting. We are thrilled to invest in Losant alongside CincyTech, who has been helping entrepreneurs build successful technology companies in southwest Ohio for a decade.”