Altizon Systems raises seed funding from The Hive, others1 min read . Updated: 17 Sep 2014, 08:40 PM IST
Co-founder Vinay Nathan says the funds will be utilized for expansion in India and creating traction in the US market
Mumbai: Altizon Systems Pvt. Ltd, a Pune-based big data company focused on the Internet of Things (IoT) industry, said it had raised an undisclosed amount of seed funding from a clutch of investors. The investment was led by The Hive, promoted by the Patni family with participation of Infuse Ventures and Persistent Ventures.
The news was first reported by VCCircle.com, an online business news portal.
Vinay Nathan, co-founder of the company, said over the phone that the funds will be utilized for expansion in India and creating traction in the US market.
Arihant Patni, MD at The Hive India, said in a company statement: “IoT will be front and centre of the next wave of data-driven applications. Altizon has the right products, technical team and experience to deliver on this vision."
Altizon Systems, which started out in 2013, raised seed money of Rs84 lakh last June. The company has created a platform, Dataonis, that manages, view and creates patterns and trends from data that is sent by devices.