The corporate venture-capital arm of German reinsurance company Munich Re Group, along with Kleiner Perkins Caufield & Byers and Munich Venture Partners have made a $23 million Series B investment in relayr.
relayr offers a cloud platform, consulting services and hardware. Relayr addresses the central challenge of the IoT with an end-to-end development solution consisting of a cloud platform that communicates from Any-to-Any (any service, any software, any platform, any sensor), open source software development kits and industrial-grade sensor kits for rapid customer prototyping.
Munich Re’s HSB subsidiary will become a relayr partner to offer customized insurance products for industrial customers who use relayr’s sensors. The partnership will give relayr’s customers “financial assurance that they will benefit from their IoT investments,” said Greg Barats, president and chief executive of HSB.