Industrial IoT platform GoFactory raises $2M
GoFactory, which specializes in helping industrial-scale businesses connect to the Internet of Things, this week announced a $2 million round of seed funding. Visionnaire Ventures led the investment, with additional participation from Reuben Brothers, David Clark, Jonathan McQueen, Swordfish Investments and Thomas Kunz.
The company’s IoT cloud platform can suck in data from any machine, vehicle, device or sensor that’s connected to a network, regardless of protocol. Users can also track non-networked assets by reading barcodes, NFC tags, or Bluetooth beacons with networked devices like smartphones or tablets.
GoFactory’s cloud software collects data from equipment and devices, then connects it with people and software systems elsewhere in a company. It uses a rules engine to identify or anticipate problems and helps to automate the process of solving them, for instance by delegating work assignments and dispatching technicians. A mobile app provides users throughout the organization with data and analytics relevant to their roles at the main office, on the factory floor, or out in the field.
The “Industrial” IoT is a hotly-contested space. As GoFactory begins to scale up, it will face competition from a variety of tech giants who have acquired similar data analytics start-ups, including Amazon’s 2lemetry platform and PTC’s combination of ColdLight and ThingWorx.