IoT startup Machfu raises $1.6M - Technical.ly DC

Business

Aug. 29, 2017 12:29 pm

IoT startup Machfu raises $1.6M

The Maryland-based startup is looking to expand in Smart Grid and Smart Water.

Machfu is looking to link industry with IoT.

(Photo via LinkedIn)

IoT startup Machfu reported its first round of institutional financing this week.

The Germantown, Md.–based company raised $1.6 million. The round was led by Vienna, Va.–based Blu Venture Investors.

Machfu focuses on Industrial Internet of Things. The company’s technology helps organizations integrate sensors, controllers and other devices into their systems. With the funding, the company is looking to expand in Smart Water and Smart Grid markets, as well as expand into oil and gas.

“The big problems impeding the growth of IIoT at scale are security and the sheer variety of application protocols, cloud connectivity protocols, wireless and wireline interfaces that make it difficult for legacy and IIoT technologies to communicate effectively,” CEO Prakash Chakravarthi said in a statement. “With the help of our new investment partners, we are enabling companies and organizations across a variety of industries to quickly and securely create applications that will help them to gather and utilize data, make sound business decisions with the additional information gleaned from that data, and increase their energy and operational efficiency as a result.”

The company is based at the Germantown Innovation Center. The company also recently received a $1 million Phase II Small Business Innovation Research Grant from the U.S. Department of Energy and $100,000 from TEDCO.

-30-
LEAVE A COMMENT

Advertisement

Ordway raised $2.5 million to help growing companies automate billing

Vbrick raises $20M to grow its video platform for livestreaming meetings

This NoVa startup has a platform to find commercial real estate loans

SPONSORED

DC

Pitch for up to $360,000 in funding at the WeWork Creator Awards

Philadelphia, PA OR Remote

Stitch, Inc.

Director, Alliances

Apply Now
Home/Anywhere

The One and Only Corp

iOS/Android Developer

Apply Now
DC, SF, NYC

Nava

Experienced Software Engineer – Backend

Apply Now

CuriPow offers a daily look at diverse historical contributions

DC Tech Stories: Kris Lovejoy on the cybersecurity landscape

Aquicore adds mobile app to building monitoring offerings

SPONSORED

DC

VR is cool, but it isn’t mainstream. This local company has a fix for that

Washington, DC

Nava

Infrastructure Engineer (DC, SF, NYC)

Apply Now
Washington, DC

Technically Media

DC Tech Reporter, Technical.ly

Apply Now

Sign-up for daily news updates from Technical.ly

Do NOT follow this link or you will be banned from the site!