Industrifonden leads Series A round in IIoT pioneer Crosser
We are glad to welcome the team at Crosser to the portfolio, as the company has closed a EUR 3 million financing round to support international expansion.
Together with German early stage tech VC 42CAP, we led the round, with participation from existing investors Spintop Ventures, Almi Invest and Norrlandsfonden.
With the IoT market growing in a rapid pace, we spend a lot of time thinking about industrial IoT and the next paradigm shift for the industry: industry 4.0. Crosser stands out because they understand the big picture, and has built a platform that complements and improves the customers’ existing technology. We are really excited about this partnership and what it will bring, says Martin Gemvik, Senior Investment Manager at Industrifonden.
Factory/Asset owners and machine builders are looking into digital solutions to increase uptime, optimize processes and find new business models. The Crosser real-time analytics platform helps enterprises to integrate the machine world with the rest of their business and accelerate their digital transformation.
We are very pleased to have two new investors with a strong interest in industrial technologies, says Martin Thunman, CEO and co-founder of Crosser. This round of funding enables us to expand internationally, build out our partner ecosystem and to invest further in the development of our platform. The first step will be to expand into Germany, the leading industrial country in Europe.
Crosser recently announced its “Bring Your Own AI” strategy with support for a variety of third-party machine learning frameworks and an open ecosystem approach for machine learning algorithms in the Edge. The Crosser platform offers a unique simplicity to deploy and orchestrate advanced machine learning algorithms, data processing, analytics and data integration in the Edge at scale.