Finance CyberX raised $18 million in Series B funding, bringing its total funding to $30 million. Norwest Venture Partners led the new round and was joined by ff Venture Capital, Flint Capital, Glilot Capital Partners, and OurCrowd. CyberX makes its headquarters in Framingham, Mass., with operations in Israel. The startup offers security protection for Industrial Internet of Things applications and for industrial control systems.
Internet of Things Release 3 is published by oneM2M, the worldwide Internet of Things interoperability standards initiative. The third set of specifications deals with 3GPP interworking, especially as it relates to cellular IoT connectivity, among other features. The release is said to enable seamless interworking with narrowband IoT and LTE-M connectivity through the 3GPP Service Capability Exposure Function. More information is available here. FogHorn Systems says its Lightning Edge Industrial IoT platform received Industrial Software Competency status from Amazon Web Services, attesting that the software is capable of working in product design, production design, production, and operations.
French robotics startup Exotec has raised $90 million in a round of funding led by London-based VC firm 83North. Founded out of Lille in 2015, Exotec develops autonomous industrial robots called Skypods that can move horizontally and vertically, and travel at speeds of up to 9mph. The robots constitute part of a "goods-to-person" picking system designed to improve productivity and reduce strain and physical exertion in human warehouse workers. Ecommerce has boomed in 2020 due in large part to COVID-19, with online merchants seeing a 42% year-on-year increase in sales last month in the U.S. alone -- data suggests that the global pandemic has led to an extra $107 billion in online sales since March. This surge in demand is good news for companies such as Exotec, which specialize in equipping large warehouses with the tools to pick and pack orders at scale.
Humans are not perfect drivers; we are vulnerable to many physical and emotional factors influencing our driving behavior. A study suggests that many road accidents occur due to a lack of response time for drivers. In order to make informed judgments, drivers need a smart assistance system that can predict a possible event beforehand and prevent a fatal crash or serious injuries. V2X is an intelligent transport system comprising of Vehicle-to-vehicle (V2V), Vehicle-to-infrastructure (V2I), and Vehicle-to-Pedestrian (V2P) communications. Biometric seat technology; autonomously managed municipality; and highway system are also part of advanced IoT technologies.
French startup Exotec has raised a $335 million Series D round in a new round of funding led by Goldman Sachs' Growth Equity business. Following today's investment, the company has reached a valuation of $2 billion. Exotec sells a complete end-to-end solution to turn a regular warehouse into a partially automated logistics platform. It's a hardware and software solution that replaces some human tasks. Previous Exotec investors include Bpifrance, Iris Capital, 360 Capital Partners and Breega.