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2014-09-18

Pune-based IoT start-up Altizon raises seed funding from investors

Altizon is a product company focused on the Industrial Internet with its flagship product Datonis architected to be the backbone for enterprises adopting the Internet of Things (IoT).

Altizon Systems recently announced closure of its seed round with The Hive, Infuse Ventures and Persistent Ventures. Altizon is a product company focused on the Industrial Internet with its flagship product Datonis architected to be the backbone for enterprises adopting the Internet of Things (IoT). The Datonis platform is available as a SaaS as well as an on-premise offering

 

Vinay Nathan, CEO and Co-founder, Altizon stated, “This funding vindicates Altizon’s pioneering Datonis platform, our fabulous team and the market traction we have gained. We have the privilege of working with marquee funds that believe in our long term vision to build a pioneering Industrial Internet product company”.

 

“At The Hive, we believe in launching data-driven businesses that cater to the global market. IoT will be front and center of the next wave of data-driven applications. Altizon is that kind of company with the right products, technical team and experience to deliver on this vision and we are committed to advance their story”, said Arihant Patni, Managing Director, The Hive India.

 

“The Datonis platform is driving value to our customers by providing real-time Operational Efficiency, Remote Monitoring Predictive Maintenance and Consumer Insights for their high-value assets. This investment is a big validation of our story and will help us in our next phase of growth, says Yogesh Kulkarni, COO and Co-founder, Altizon.

 

Kunal Upadhyay, CEO, Infuse Ventures, a fund focused on the sustainable and clean energy sector, housed at IIM Ahmedabad’s Centre for Innovation Incubation and Entrepreneurship, said “Monitoring, analyzing and improving operational parameters of clean tech infrastructure is critical for the space that we operate in and Altizon’s vision fits very well into our core objective. Several of our portfolio companies are looking to utilize the Datonis platform in their offerings.”

 

Also joining the round is Persistent Ventures, a division of Persistent Systems Ltd. Persistent stated that they are looking to leverage Datonis for their go-to-market activities in the IoT space. Persistent Systems also holds almost 4 per cent stake in Altizon with Anand Deshpande, CEO and MD, Persistent Systems, serving as a mentor and advisor on Altizon’s board, as reported by Mint.

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