Axonize, an Israeli start-up company specializing in IoT services based on Microsoft Azure, has secured a substantial investment from Deutsche Telekom. The $6 million round A was led by Israeli Venture Capital firm Meron Capital and included existing investors StageOne Ventures and U.S.-based Cornerstone Venture Partners, says the press release issued by Deutsche Telekom.
Axonize and its IoT orchestration platform were chosen for this strategic investment following a rigorous selection process, due to its unique service provider capabilities that include cross-application orchestration and management, and very fast development times per application.
“Axonize has developed a unique IoT orchestration platform which addresses our and our customers’ IoT requirements,” said, Anette Bronder, head of Digital- and Security Department of Deutsche Telekom. “Apart from our investment, we see great collaboration potential because Axonize ideally complements Deutsche Telekom Group’s IoT platform ecosystem worldwide.”
“We are excited to continue investing in Axonize in this funding round. We have seen the management team take this company from an idea to accomplishing impressive milestones. This investment by Deutsche Telekom is another vivid demonstration of their ability to create substantial value for service providers,” said Tal Slobodkin, board member at Axonize and Managing Partner at StageOne Ventures.
“The backing of Deutsche Telekom for our IoT orchestration platform is a strong validation for our unique service provider capabilities,” said Janiv Ratson, CEO of Axonize. “Their IoT business is both visionary and extremely practical and will have a transformative impact on digitization of their enterprise customers.”
Axonize is purpose-built for IoT service providers. Among its unique capabilities is the ability to orchestrate, connect and manage multiple IoT applications, granting service providers management capabilities across all applications. The company has a unique architecture based on a pre-built, highly flexible AnyAPP™ application layer that resides on a robust and secure Microsoft Azure cloud.
Instead of developing an entire application for every customer, its pre-built application can be customized to specific customer needs. This reduces IoT build time to a handful of days, rather than months, enabling IoT service providers to offer their customers a much higher ROI on IoT projects. Another benefit of the architecture is that Axonize is completely open to any sensor, hardware, protocol, or system from any industry.
Axonize will use the funding from this round to invest in further enhancement of its platform and accelerate the ramp-up of its sales team.