With New Cash, Sensemetrics Aims to Take Industrial IoT Tech Global
Summary
San Diego startup Sensemetrics is applying that technology to the industrial Internet-of-things sector (IIoT), selling access to its cloud platform to the world’s largest mining companies and government agencies monitoring major infrastructure, such as dams.CEO Matt Meehan says Sensemetrics provides companies with a streamlined way to collect and analyze the information being measured via sensors and other connected devices in real time.The financing round was led by X2 Equity, a Munich, Germany-based firm that also has offices in the U.S. and China, which invests in tech companies that are developing innovative ways to improve large-scale industrial manufacturing processes, according to its website.Its customers include mining group Rio Tinto, energy giant Chevron (NYSE: CVX ), and Sempra (NASDAQ: SRE ) subsidiary San Diego Gas & Electric, according to its website.Proceeds from the financing will help beef up the company’s sales and support teams in San Diego and in Denver, CO, and to expand its presence, first in North America, and then Europe, the Middle East and Africa, and Asia.
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