Business

Seattle-Based IoT Startup Resin.Io Raises $5 Million Funding From Soracom

Seattle startup is working on a container method for deploying IoT applications that takes up only a limited space to create this product.

According to the representative of the company, Resin.io in recent years managed to bag $17 Million with the addition of a new funding worth $5 Million led by Soracom, a division of the leading telecommunications company in Japan, Wireless KDDI Corp.

Soracom, which designed to connect devices within the Industrial Internet of Things, now partners with Resin.io for functioning with future products that will work more closely.

Internet connectivity and computing power are becoming more general in modern factories and other industrial facilities, as manufacturers and developers begin to realize that they can pull out remarkable data that could formulate their operational workflow more efficient. However, managing these types of devices is a bit difficult being a stable computer or servers, given the limitations in which they operate. Large cloud computing vendors spend a lot of time and effort for positioning themselves for this shift.

Resin.io creates a software development platform based on Linux, which helps users create and deploy IoT applications on devices. The company’s software also utilizes a Docker-compatible container engine that facilitates developers to modernize their function in a much simple way compared to an individual update of every IoT device.

“The company, which now has 50 employees, decided to move to Seattle in 2015, in part owing to the rich industrial and manufacturing history of the region,” said founder and CEO of Alexandros Marinos. Previous investors include Ericsson, GE, Aspect Ventures, and Draper Fisher Jurvetson.

According to experts, IoT and other future-based technologies could be the next big capital asset for the businesses, looking ahead majority of the investment have been inclined towards the advanced technology and its equipment.

About the author

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Shivangi Mehra

Shivangi holds a degree in Masters in Business Administration, from S. P. Jain Institute of Management and Research College, in the field of business and finance. She has been active in industry since 6 years, and has written for various well known publications as well. Her articles have been featured several times in regional news and as global tech news. Her unique style of writing, and in-depth analysis skills regarding the past trends and upcoming scope of opportunities makes her a perfect choice for her designation as an Editor for Latest Industry News.

Email: shivangi.m@latestindustrynews.com

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