Deals

IoT company CyberLightning announces $4.2M round

internet of things

In case there was any doubt in your mind that the Internet of things (IoT) is the future, here’s another feather in that particular cap: Following the recent launch of its industrial Internet visualization and management software, CyberLightning just pulled in $4.2 million in financing to help the company continue development and implement a stronger marketing push in the international market.

The company’s CyberVille software offers 3D visualization for the Internet of things that makes it easier to analyze big data captured by sensor networks. These networks are used on buildings, for evaluating utilities infrastructure, and even for monitoring traffic. Basically, corporate clients can use the CyberVille platform to analyze collected data and display it in a more readily accessible way.

Lead investor for this first institutional funding round was Inventure, whose managing director, Sami Lampinen, joined CyberLightning’s board as a part of the deal. Other investors included TEKES and EU-sponsored funds.

According to Lampinen in a press release, there’s a growing demand for flexible “global data capture and data mining to produce mission critical business info.” He also believes that CyberLightning has all the right stuff to become a leader in the IoT space.

CyberLightning was founded in 2010 at the Center for Internet Excellence at the University of Oulu, Finland.

The Internet of Things concept has been growing steadily over the past several years. Last month, VentureBeat discussed this growth and how experts believe IoT marks the next industrial revolution with 50 billion connected devices by 2020. Prior to that, several startups — like Octoblu — and established companies — like Samsung and Microsoft — revealed their IoT plans.