# IOTech Systems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/iotech-systems

- Industry: Software
- Headquarters: Newcastle, UK
- Website: www.iotechsys.com
- Total disclosed funding: $9.7M
- Latest round: Series A (Aug 7, 2019)
- Investors on record: 4

## About

IOTech Systems Limited specializes in delivering innovative edge data platform solutions, enhancing real-time connectivity and management of operational technology devices across various sectors.Founded in 2017 and headquartered in Newcastle, UK, IOTech Systems Limited provides an open edge data platform. The company has participated in 3 funding deals, with the latest being a Series A round on August 29, 2023, led by Dell Technologies Capital, raising GBP 5.920 mn, thus totaling GBP 5.920 mn raised to date. The founders include Andrew Foster, Anna Duong, Ha Minh, and Stephen Osselton, while Keith Steele serves as the CEO.IOTech Systems specializes in providing an open edge data platform primarily through its flagship products, IOTech Edge Central and Edge Builder. IOTech Edge Central serves as an industrial-grade solution founded on the EdgeX Foundry framework, enabling seamless connectivity, real-time data acquisition, and comprehensive edge management. The platform allows users to integrate a wide variety of operational technology (OT) devices and sensors, facilitating data normalization, aggregation, and secure sharing with cloud and application ecosystems. Edge Builder enhances usability and scalability, offering a unified graphical interface to manage thousands of devices efficiently. IOTech's solutions are deployed across various sectors, including manufacturing, renewable energy, transportation, and building automation, catering to clients globally, including leading industrial OEMs, independent software vendors (ISVs), and systems integrators (SIs).IOTech Systems' revenue is primarily generated through a subscription-based model and partnerships with key industry players. The company's offerings include Edge Central and Edge Builder, tailored for a B2B clientele, enabling enterprises to enhance their operational efficiency through edge computing solutions. Transactions typically involve multi-year contracts, ensuring clients receive ongoing support and updates. This structure facilitates predictable revenue streams while integrating IOTech’s platforms within clients' infrastructures. As of 2023, the company reported an EBITDA of GBP 0 for the most recent year.In August 2023, IOTech Systems Limited raised GBP 5.920 mn in growth capital funding, led by returning investor Dell Technologies Capital, with further backing from Northstar Ventures, Scottish Enterprise, and SPDG - Périer-D'Ieteren. The funding will be utilized to enhance sales, marketing, and pre-sales support, driving deployments and future customer engagements. IOTech aims to expand its market presence and is exploring opportunities in new geographic regions to enhance its product offerings.

## Funding rounds

- Series A, Aug 7, 2019, $7.2M — Northstar Ventures, SPDG, Dell Technologies Capital, Scottish Enterprise
- Seed, Jun 12, 2018, $2.5M — Dell Technologies Capital

## Investors

- Dell Technologies Capital (https://capitalatlas.ai/funds/dell-technologies-capital) — Seed, Series A
- Northstar Ventures (https://capitalatlas.ai/funds/northstar-ventures) — Series A
- SPDG — Series A
- Scottish Enterprise (https://capitalatlas.ai/funds/scottish-enterprise) — Series A