BARCELONA, Spain–(BUSINESS WIRE)–February 28, 2017–
Flo Live Limited, a provider of end-to-end solutions that unlock IoT revenue growth and that secure the integrity of IoT networks, has raised USD 4.2 million in a Series A round.
The round was led by ARIE Capital, and Golden Sunflower Capital. The funding will allow Flo Live to continue to grow its development, sales and after-sales teams, and to build identified IoT verticals.
“Flo Live’s holistic approach to the IoT industry is unique and allows them to offer depth in terms of connectivity and unparalleled levels of security. We are very excited to be on board and we see tremendous value creation potential in the short and long-term” said Simon Tobelem, CEO of ARIE Capital. “Thanks to their secure platform in the cloud, and their customer-centric approach, Flo Live are poised to play a significant role in reshaping the IoT industry, and become the standard for what customers should come to expect from IoT players.”
“Our value proposition lies in our end-to-end offer using our cloud-based IoT ecosystem which includes a managed core network, true device management and IoT applications and analytics”, said Percy Grundy, Flo Live co-founder and co-CEO. “We are driven to become the IoT partners of our customers with a view to accelerate their IoT revenue growth, and get the most out of their connected devices.”
Additionally, the funding will enable Flo Live to enhance their cloud offer to MNO’s and OEM’s for eUICC-compliant eSIM integration and subscription management. The benefits for Flo Live customers and their end-users include an end-to-end turnkey solution offering immediate connectivity to a secure IoT network.
To learn more about Flo Live, please visit www.flolive.net
About Flo Live
Flo Live is a provider of end-to-end IoT solutions and operate core networks in the cloud optimised for IoT. Their current offering includes device management, applications and analytics. Flo Live work closely with MNO’s, MVNO’s, OEM’s and chipset manufacturers to pave the way to accelerated IoT revenue growth. Flo Live are present in London, Paris, Limassol, Hyderabad and Tel Aviv; they are currently setting up a US office in California.
About ARIE Capital Ltd
ARIE Capital Ltd is a UK-based Investment Management and Advisory platform. ARIE Capital initiated and successfully launched the 1st UK – Israel – China VC fund and will soon expand with additional funds in and outside China.
ARIE Capital’s unique approach is to combine financial investment with strategic partnership and intensive business development support to optimise value creation, mostly thanks to our strong network of Chinese partners and investors.
ARIE Capital was created in February 2016 by Stephen MARGOLIS (Chairman) and Simon TOBELEM (CEO) and has offices in London, Beijing, Tel Aviv, Los Angeles and Paris.
About Golden Sunflower Capital
Golden Sunflower Capital is a Beijing-based Asset Management company, managing close to USD 1BN, mostly in private equity and fixed income funds.
Golden Arie Capital is the 1st collaboration for Golden Sunflower Capital with an international partner. The fund completed 4 venture capital investments since its inception, focusing mostly on Israeli and European deep technology ventures with a strong potential for growth in China.
Patrick Recasens i Morente