Symboticware raises $2.2M

Industrial IoT firm Symboticware has raised C$2.8 million (US$2.2 million) in its first-ever private financing round, the company said.
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The injection of funds will allow Symboticware to advance its technology for mining, for instance developing technologies that enable data-driven decision-making which improves efficiency.

The round was led by round led by venture capital firm GreenSky Capital Inc. and supported by MaRS Investment Accelerator Fund, Celtic House Asia Partners, Axion, added the company.

 "As we near the launch of industry's first Operating System of Intelligence, it's essential that we keep looking forward and pushing through to the next phase of Symboticware," said CEO Ash Agarwal. "The infusion of funds from such reputed investors will allow us to build and deliver an integrated product that will serve a long-standing and unmet need of resource industries worldwide."

GreenSky Managing Partner Greg Stewart said: "Symboticware has impressed us with their strategic mindset and commitment to creating value for their customers. With no external financing, they have become a technology provider to some of the leading mining companies in the world. We are excited to see what we can achieve together".