IoT start-up MachineShop raises $3M
Boston-based MachineShop, which provides middleware for the Internet of Things, emerged from stealth mode this week with the announcement of $3 million in outside funding. The investors, all of which are existing customers and partners, are CSR, Diebold, and Xchanging.
Despite the name, MachineShop is not a hardware manufacturer. Instead the company provides what it calls an “Internet of Services” to make it easy for manufacturers to connect their devices to many different APIs. Instead of a development platform, MachineShop creates an exchange where APIs coded in any programming language can communicate and swap data.
“We’re the glue that standardizes the way applications interact with each other,” CEO Michael Campbelltold CruxialCIO.
This investment is the first outside funding for MachineShop, which until now has been supported by revenue.