Balena Raises $14.4m in series B Funding

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The accumulated funds will be used to expand Balena’s capabilities and continue building products that enables the connected world accessible to everybody.

Washington-based software firm Balena has raised $14.4m (£11.52m) in its latest series B investment round led by OpenView, amongst the existing investors, such as Threshold Ventures, Aspect Ventures, and GE Ventures.

Balena, earlier known as resin.io, concentrates on unleashing the potential of physical computing by eliminating friction for IoT fleet owners. The company’s full-stack platform gives a comprehensive, end-to-end solution so that it could be made simpler for developers to build applications for the IoT and the edge.

The recently raised funding will be used to widen Balena’s capabilities and go on to build products that makes the connected world accessible to everybody. The company is also deliberating over its plan to expand its global distribution team. It is, thus, hunting for talented people across different verticals of the business, ranging from engineering and operations to growth, marketing and sales.

In February, Sydney-based IoT start-up GoFar also raised $1.3m (£1.04m) in a funding round headed by Right Click Capital. The company is focused on manufacturing technology that concentrated on solving problems that disturbs drivers.

A month earlier, Canadian computer security provider Cybeats announced expansion of its team in Toronto and abroad by raising $3m (£2.4m) in a funding round led by early-stage venture capital fund Ripple Ventures. The company mentioned that it would utilize the raised funding to expand its sales, R&D activities, and its enterprise capabilities with a focus on smart buildings, medical devices, and critical infrastructure.

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Balena Raises $14.4m in series B Funding

by Sameer Dhanrajani Time to Read: 1 min
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