Cloud based startups are indeed the future of the technology industry, recently the cloud based startups Carbyne and Oqton have secured new funding. Here is what you need to about the funding rounds:
Carbyne secures around US$ 25 million Series B1 funding
Carbyne, a Israeli cloud based startup that provides emergency communication to provide public safety technology for emergency infrastructure secured around US$ 25 million capital in a Series B1 round on 14th January 2021.
The round was led by Hanaco Ventures and ELSTED Capital Partners, and included participation from the former CIA Director General David Petraeus and the existing backers of the startup including Founders Fund, FinTLV, and a few others.
They are planning to use the proceeds of funding for helping their cloud-native emergency service platform that helps in delivering real-time information.
Amir Elichai, the CEO of Carbyne said “The plan was to actually raise US$15 million last year. After the COVID started I decided we didn’t want to let anyone go, but we didn’t know what the situation would be. So we cut salaries instead across the board. But then we started to double revenues starting in Q2, and then in Q3 and Q4 grew 160%. It was straightforward to raise this money.”
Carbyne is a provider of life emergency communication platform and was founded in 2014 by Alex Dizengof, Amir Elichai, Lital Leshem and Yoni Yatsun. The focus on enhancing the communication with the use of emergency services that act as a gateway for delivering smart and rich data from citizens to the other state agencies and emergency centers.
Oqton raises US$ 40 million Series A funding
Oqton, a San Francisco based startup that is solving manufacturing challenges using their AI driven and cloud solutions raised US$ 40 million funding in a Series A round on 14th January 2021.
The investment round was led by the business to business software investment company for Fortino Capital, PMV and the MNC engineering group Sandvik. The angel investors Carl Bass (Autodesk CEO), Dries Buytaert (Belgian entrepreneur) and Peter Mercelis (Layerwise) also participated in the round.
The company intends to use the fresh capital for expanding their cloud-based manufacturing software platform and exploring new strategic partnerships across the globe.
Samir Hanna, the previous CEO of Oqton and new chairman said, “We can already achieve 100% automation in the dental and jewelry verticals, resulting in 30% overall cost reduction. Given the platform strategy, the software can be targeted to many specific industry verticals, like dental, jewelry, medical, industrial and aerospace, as well as to different personas and workflows within those industries.”
Oqton is a California based startup building and open factory operating system which can efficiently integrate engineering software with the manufacturing hardware. It was founded in 2017 by Ben Schrauwen and Samir Hanna. The factory OS of Oqton captures the real time data from the production environment and employs artificial intelligence techniques for closing the loop generating actionable insights and reengineering and optimizing the overall production workflow.
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