Evrythng, a UK startup on a mission to connect everything to the internet, has received an additional $7.5 million (£4.82 million) in funding, bringing total investment in the company up to $17.5 million (£11.2 million).
The money comes from private equity investors BHLP LLC in New York, tech investment firm Atomico and venture capital house Dawn Capital, as well large technology corporates Cisco and Samsung, both of which stand to benefit from an increasingly connected world.
The London-headquartered company said it will use the money to expand the capabilities of its internet of things (IoT) platform, in addition to expanding its operations. The firm currently has additional offices in Zurich, San Francisco and New York.
"As Evrythng continues to experience increasing demand from global consumer product manufacturers who see the massive benefits of IoT to transform their businesses, having strong executive leadership, world class experience, and sound financial support becomes ever more vital," said Niall Murphy, founder & CEO at Evrythng.
Evrythng, which has been working with global consumer product brands like Unilever and Diageo over the last year, also made a number of appointments to its board.
John Fogelin, formerly CTO at Wind River, joins as executive vice president of engineering, and Neal Matheson, formerly CTO at Johnson & Johnson and Unilever, joins the company's advisory board. Industry titan David Bell, who has served as senior advisor to the executive leadership team at Google, and currently AOL, chairs the advisory board.
"John and Neal both bring unique, exemplary skill sets from their domains of expertise, which will allow us to scale and further solidify our position as a leader in the IoT market."
Cisco believes the 'internet of everything' market has the potential to create $19 trillion (£12 trillion).
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