IoT platform provider Ayla Networks announces $39 million in Series C financing

IoT platform provider Ayla Networks announces $39 million in Series C financing
Ayla Networks now has $39 million more to continue propelling the success of its global Internet of Things (IoT) platform for manufacturers. Ayla’s Series C financing round comes from a broad group of global investors led by Ants Capital, a boutique investment bank and asset management company with headquarters in China and investment interests in China, North America and Europe; co-led by 3NOD, a leading original design manufacturer (ODM) of smart lifestyle products; and joined by new investors Mitsui and Acorn Pacific. Existing Ayla investors Cisco Investments, Crosslink Capital, International Finance Corp. (IFC, a division of World Bank Group), Linear Venture, SAIF Partners/Oriza Ventures, SJF Ventures and Voyager Capital also reinvested in this financing round.

“Our strategy at Ants Capital is to focus on the leading platforms in particular market segments and select winners,” said Yin Min, managing partner of Ants Capital. “The Internet of Things will be the next area where major winners will emerge, and we invested in Ayla because it has unmatched traction inside China and globally with leading manufacturers making IoT products. Ayla’s strategy and IoT platform is a clear fit with the direction of manufacturers worldwide.”

“Ayla is fast becoming one of the leading IoT platforms for OEMs that are manufacturing and shipping IoT products globally,” said David Friedman, CEO and co-founder of Ayla Networks. “With IoT clouds operating in multiple regions worldwide, and with major customers continuing to expand their Ayla-powered IoT product lines, Ayla believes that the ‘when’ of the IoT is right now—and that Ayla Networks is well positioned to help manufactures take advantage of growing market for connected products.”

Source: Ayla Networks


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