Litmus Automation secures USD7m in Series A funding round
Industrial edge computing platform provider, Litmus Automation, has secured USD7 million in a Series A funding round led by Mitsubishi Corporation.
Litmus Automation’s products LoopEdge and Loop allow businesses to implement Industrial Internet of Things (IIoT) solutions. Working with original equipment manufacturers and other industrial companies, Litmus Automation’s IIoT solutions offer data and device management so companies can optimise how they run their business and how their customers’ businesses operate.
Litmus Automation’s customer base includes Siemens, HPE, Intel and SNC Lavalin.
“We already have key customers and channels scaling up nicely but we are seeing the market expand and adopt Industry 4.0 at a more rapid pace – the funding will allow us to capture this opportunity,” says Vatsal Shah, CEO and co-founder of Litmus Automation.
This funding round brings Litmus Automation’s total funding since the launch of its secure Industrial edge computing platform to USD12.6 million.
Takao Shinohara, General Manager of Mitsubishi, says: “We invested in Litmus Automation because their edge computing platform fills a huge gap in the market."