Glassbeam, Inc, a California (the US)-based machine data analytics company, has raised a funding of $2 million.
VKRM Group, which has already invested in the firm, has led the funding with serial entrepreneur Sashi Reddy chipping in.
“We will use the funds to continue the refinement of Internet of Things (IoT) platform – Glassbeam SCALAR,” the company said here in a statement on Wednesday.
This is the 3rd round of investments in the last one year. VKRM had invested $3 million earlier. They had an initial seed capital of $2 million.VKRM is the lead and Sashi Reddy has $750000 investment of $2 million.
The company, which has 15 employees in California, has a backoffice in Bangalore with 35 staffers.
The company said the Glassbeam SCALAR platform is designed to analyse huge amounts of data being generated with the rise of connected devices. “It works with any data, any device and any cloud to quickly uncover profound intelligence from complex operational data,” it said.
The firm has appointed Kumar Malavalli as its Chief Strategy Officer (CSO) and inducted serial entrepreneur Sashi Reddi onto the board. Sashi set up Rs 100-crore SRI Capital to invest in start-ups.