Proving the Business Case for the Internet of Things

Indian IoT startup Altizon secures seed funding for expansion

Iain Morris
September 18, 2014
 
Indian IoT start-up Altizon Systems says it has received seed funding from a number of venture capitalist firms that will assist the company in its next phase of growth.

Altizon (Pune, India) has developed a industrial internet platform called Datonis that uses big data technologies to gather and interpret data being generated by M2M devices.

It says Datonis is available on a software-as-a-service basis and as an on-premise offering.

The company’s investors include The Hive (Bangalore, India), Infuse Ventures (Ahmedabad, India) and Persistent Ventures (Pune, India).

“This funding vindicates Altizon’s pioneering Datonis platform, our fabulous team and the market traction we have gained,” said Vinay Nathan, chief executive and co-founder of Altizon. “We have the privilege of working with marquee funds that believe in our long-term vision to build a pioneering industrial internet product company.”

The Hive said it was attracted to Altizon because of its technical team and experience.

“We believe in launching data-driven businesses that cater to the global market,” said Arihant Patni, managing director at The Hive India. “IoT will be front and center of the next wave of data-driven applications.”

Altizon says the Datonis platform will provide real-time operational efficiency, remote monitoring predictive maintenance and consumer insights for its customers.

“This investment is a big validation of our story and will help us in our next phase of growth,” said Yogesh Kulkarni, chief operating officer and co-founder of Altizon.

Meanwhile, Infuse Ventures says a number of its portfolio companies are already looking to use the Datonis platform in their offerings.

“Monitoring, analyzing and improving operational parameters of clean tech infrastructure is critical for the space that we operate in and Altizon’s vision fits very well into our core objective,” said Kunal Upadhyay, the chief executive of Infuse Ventures.

Persistent said it was looking to take advantage of Datonis for its go-to-market activities in the IoT space.
 
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