The IoT leader Worldsensing announces that it has received series B equity funding from a group of blue-chip investors. These funds are to be used to speed up its growth and establish Worldsensing in the global smart city and IoT industrial markets.
Some of the major investors that participated in this funding round are Cisco Investments, Kibo Ventures, Mitsui & Co, Endeavor Catalyst and Fundación Jose Manuel Entrecanales (FJME). Investors like Finaves that participated in the previous round, also registered their presence in series B funding round. The syndicate of investors include strategic investors as well as financial leaders. This combination will surely help Worldsensing move higher in the global market.
IoT markets have been doing pretty well lately, which’s why experts have called it a well-timed funding for Worldsensing. The funds will be utilized to expand sales operations, and enhance reach in key markets like Middle East, North America, Europe and South America.
Worldsensing offers a couple of product portfolios at present. The industrial portfolio comprises of innovating IoT solutions for Civil Engineering, Oil & Gas, and Mining customers, whereas the mobility portfolio comprises of world-class smart packaging, traffic management and pedestrians flow information solutions.
Worldsensing has deployed innovative solutions in USA, the UK, Spain, Italy, Australia, Brazil, Mexico, Colombia and Panama. This funding will help it enhance its portfolio in other countries as well.