Flutura heads towards $7.5m future
Posted on 14 February, 2017 by Thierry Heles, editor
Vertex Ventures has led a $7.5m series A round for industrial internet of things company Flutura.
Flutura Decision Sciences and Analytics, an India-based industrial internet of things (IIoT) technology developer, has raised $7.5m in a series A round led by Vertex Ventures, the VC firm backed by Singapore’s government venturing firm Temasek.
Lumis Partners and Hive also participated in the round, after Hive previously injected an undisclosed amount in seed capital in 2013.
Founed in 2012, Flutura operates an artificial intelligence platform, Cerebra, that mines IIoT sensors, assets and operations data to surface signals that impact industrial outcomes. The technology has applications in areas such as manufacturing processes.
Ben Mathias, managing director and India head at Vertex Ventures, has taken a seat on Flutura’s board of directors, according to LinkedIn.
He said: “We are proud to associate ourselves with this team that is leveraging the tremendous software talent in India, to build highly value driven solutions for global industrial clients and we look forward to this journey with them.”
See more from this Government Report: Singapore
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