Industrial IoT Startup Seebo Raises $8 Million

Tel Aviv-based Internet of Things (IoT) startup Seebo announced an $8 million investment round on Wednesday, an extension of the company’s Series A funding round, totaling $16.5 million. Seebo has raised $22 million in investments to date.

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Existing investors TPY Capital and Viola Ventures participated in the funding round, in addition to Chicago-based Pritzker Group Venture Capital and Japanese investment firm Global IoT Technology Ventures, Inc.

Seebo said it would use the investment to support its industrial IoT platform and extend the company’s strategic partnerships.

Founded in 2012, Seebo develops a cloud-based software that allows industrial manufacturers to quickly and cost-effectively turn existing machinery into smart, connected systems that report their health and usage data. Among Seebo’s customers are companies such as mineral processing equipment company Multotec Process Equipment (Pty) Ltd., military, and industrial-grade flood lighting manufacturer DuraBrite Lighting Solutions, and U.S.-based manufacturer of hand tools and storage products Stanley Black & Decker, Inc.

 “Today we see a surge in market demand from industrial manufacturers in dozens of verticals - such as mining, packaging machinery, water filtration equipment and industrial pumps,” said Seebo CEO and co-founder Lior Akavia.

Seebo has over 50 employees, working out of offices in San Francisco, Tel Aviv, and Shenzen.