SEATTLE, April 10, 2018 /PRNewswire/ -- A leading Internet of Things technology service provider, SENSORO, has recently completed a multi-million dollar Series C round of financing. This round of financing has been led by Baidu Ventures, Northern Light Venture Capital, Robert Bosch Venture Capital and Chaos Investment among other institutions.
Baidu Ventures is committed to becoming a world-class VC in the AI era. Baidu Ventures is aiming to invest in the industry changes driven by AI and the underlying technology behind them. This includes areas ranging from quantum computers to space-based observation networks, smart cities and precision medicine, among others. On the other hand, Northern Lights Venture Capital has long focused on investing in outstanding companies in the field of scientific and technological innovation, emphasizing three factors: team, market, and innovation. This round of financing will help SENSORO to continue developing cutting-edge IoT technology, accelerate the global expansion of its IoT products and gain competitiveness.
SENSORO's team members have varied backgrounds, coming from companies such as Microsoft, Ericsson, Huawei or Netease, and includes experts in 5G and the communications field. Since its foundation in 2013 as part of Microsoft Ventures, SENSORO has focused on ultra-low power IoT solutions, and it has already secured its position within the top three companies in the field of low-power Bluetooth sensors. SENSORO has provided IoT solutions and services to more than 700 brands all over the world, including companies and organizations such as Microsoft, Google, Real Madrid FC, Bosch or Sumitomo.
SENSORO has independently developed the world's smallest Internet of Things LPWAN chip, and has a wide range of products that include communication modules, sensors, communication base stations and cloud services. Covering more than 65 countries and regions around the world, SENSORO is committed to helping customers take the first steps in the construction of the Internet of Things, helping to build smart cities and protecting people's lives and property.
Following the development of 5G technology, the Internet of Things is once again receiving significant market attention. Research firm IDC predicts that global spending on the Internet of Things will reach $772.5 billion in 2018, a 14.6% year-on-year increase. The Internet of Things is predicted to emerge as a trillion-dollar industry in the field of global information and communication.
Today, there are several key players in IoT, and the rapid growth in the number of connected devices and IoT corporate projects is contributing to the continuous development of this industry. The "Internet of Everything" is changing the way we perceive our world, and as we move from the current 15 billion connected devices to the estimated 50 billion connected devices in 2020, many changes will take place in the way our world and cities operate.
SENSORO, as an industry leader in the global Internet of Things, has strong independent R&D capabilities and significant technological strength. In the future, SENSORO will aim to further expand the application scenarios of IoT technology in the construction of smart cities and to provide customers with a better, more convenient and smarter way of life, also calling for more partners to join the company in exploring the vast world of opportunities in IoT technology
