Litmus raises $30mn in Series B funding led by Belden
San Jose, United States – Litmus announced it has closed [$30 million (€29.97 million)] in Series B funding to cap a period of exceptional growth in adoption of its Industrial IoT Edge platform. The Series B was led by Belden with participation from other investors whose confidence in Litmus signals the strength of Litmus Edge as the standard data platform for Industry 4.0.
The new round brings the Litmus funding total from [$12.6 million (€12.59 million)] to [$42.6 million (€42.56 million)] and will allow the company to scale sales, marketing, customer support and extend service and deployment to enterprise customers through various go-to-market channels. The company will expand its presence in EMEA and APAC while supporting fast-growing OEM relationships to provide customers with the most complete IIoT Edge platform on the market that unifies data collection, data analytics, application enablement and data integration.
“We’ve always been a product-led company, and this investment proves that the product we’ve developed is leading the market in solving OT complexity to capture the data needed to power advanced Industry 4.0 use cases,” says Vatsal Shah, co-founder and CEO of Litmus. “Our investors are validating both our business model and our technology by coupling it with their offerings to help customers digitally transform, increase efficiency and improve their bottom line.”
With instant connectivity to hundreds of OT assets, Litmus Edge connects to all modern and legacy systems to unify OT data and provide a complete data picture across the enterprise. Manufacturers use that data to power use cases from condition monitoring to AI to improve performance, increase efficiency, and ultimately drive profitability. Litmus Edge is modern, rapid-to-deploy, and easy-to-use, providing OT, IT and data science teams with all of the edge data they need, when they need it, to drive operational change.
Belden will partner with Litmus to expand the reach of both companies’ edge solutions.
“Belden is excited to work with Litmus as we continue to expand our edge offerings,” says Oliver Kleineberg, VP & chief technology officer, industrial automation solutions, Belden. “Our recent introduction of the Hirschmann OpEdge-8D industrial edge gateway device and the Belden Horizon edge orchestration service provide the critical infrastructure that companies need to process data reliability at the edge and ensure secure edge-to-cloud connectivity. This partnership will empower us to offer a best-in-class platform for unifying operational data so that customers can derive valuable, actionable insights using our solution.”
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