attracts Verizon Ventures to Fabric 3 [PRESS RELEASE]
Summary
This will bring the company’s total investment raised to $41 million for the creation and development of cloud and IoT infrastructure companies. Through its unique approach of deeply collaborating with entrepreneurs to create new companies from the ground up, The Fabric fills a specific need in the startup and investment spectrum of the rapidly growing cloud and IoT infrastructure industry, which is projecting shipments of 7.6 billion IoT endpoints and total spending on endpoints and services to reach $3.9 trillion in 2021, according to Gartner. In the last five years, we have created several successful cloud and IoT infrastructure companies to fulfill that premise. The Fabric takes a unique approach of co-creating, funding and launching companies in the cloud and IoT infrastructure space. Based in Mountain View, the company has raised over $41 million to enable growth of the infrastructure industry, and has launched eight companies including VeloCloud, Perspica, Appcito, IoTium, Pensa, Spanugo, KMesh, and Rosetta Cyber Security.