Avassa Closes New Round of Funding, Welcomes H&M Group as Strategic Investor
Summary
They now close a new investment round, adding the global fashion retailer H&M Group as a strategic investor for the continued modernization of brick-and-mortar store IT operations.Edge computing is revolutionizing enterprises everywhere by bringing data processing closer to the source, significantly improving application availability, and enhancing real-time decision-making. This enables enterprises to efficiently manage the lifecycle of innovative edge applications and build resilient infrastructure that can operate undisrupted during offline scenarios, maintain security posture in exposed store environments, and accelerate innovation.H&M Group has selected the Avassa Edge Platform as a key component in a broader redesign and innovation initiative for their in-store IT infrastructure. This investment further emphasizes H&M Groups commitment to building a secure and innovative new generation of store IT, already demonstrated in the implementation of the Avassa Edge Platform. We are also grateful to our existing investors for their renewed trust in us on our continued growth journey," says Fredrik Lundberg, CEO and co-founder of Avassa. "We are delighted to deepen our partnership with Avassa with this investment and we look forward to continuing to use Avassa as an important component to further enhance our edge computing capabilities across the H&M Group", says Katharina Gromotka, Investment Manager at H&M Group Ventures.With this strategic collaboration with H&M Group, Avassa continues their commitment to offering a leading edge management and operations platform at a global scale.This information was brought to you by Cision http://news.cision.comThe following files are available for download: