Funding foretold: Prescient raises $2m for low code IoT platform
SaaS based IoT solutions provider Prescient Devices, Inc. (PDI) has closed a $2 million financing round. PDI notes it will use the funds to expand its end-to-end, low-code IoT SaaS solution as well as ramp up sales and marketing programs.
The round was led by Z5 Capital with participation from a class of super-angels from the software, IoT, cloud services industries, and leaders from the Massachusetts Institute of Technology and the Harvard Business School.
Prescient Devices’ distributed low-code programmable platform allows system integrators, IT/OT engineers, and data scientists to build sensor-to-cloud IoT and edge computing solutions with simplicity and scalability. The platform supports turnkey solution templates from the sensor to the cloud, providing remote monitoring and industrial automation solutions businesses can deploy into real-world environments on day one, then scale and customize as needed.
“We uniquely focus on removing the technology barrier for engineers, integrators, and data scientists to build, and accelerate IoT applications, helping deliver new business applications to the commercial market. The growing interest and active engagement from our users have been amazing,” explains Andy Wang, co-founder and CEO of Prescient Devices. “Our growing community has already developed active IoT applications for predictive maintenance, machine vision, and test automation within weeks of concept and transforming the entire approach to IoT business automation and edge intelligence applications. This round of funding will help accelerate our ability to better support our customers while expanding Prescient Designer’s functionality.”
Support from the IoT, Edge Device Manufactures and Investment Community
The company has a strong advisory board including leading technologists and business leaders in AI and IoT. With this round, Prescient Devices will add key industry leaders to its Board, including Professor Charles Sodini from MIT and Saqib Syed, software entrepreneur and investor.
“I am excited about Prescient’s pragmatic and creative approach to handling the scale and complexity of emerging IoT deployments,” notes Hari Balakrishnan, Professor of Computer Science and Artificial Intelligence at MIT and CTO of Cambridge Mobile Telematics (CMT). “Prescient Designer is an end-to-end solutions platform that enables low-code designs and provides a unified management framework with intuitive interfaces and has the potential to truly transform how IoT systems are implemented and managed at scale.”
“Low-code software has transformed application development across industrial automation and is now poised to do the same for IoT systems, particularly given the disjointed, complex and inflexible tools users are working with today,” adds Glen Almendinger, president of Harbor Research. “Prescient Devices low-code, open-source development platform takes a refreshingly new approach to IoT solutions, incorporating critical elements of Node-RED. Prescient Designer leapfrogs the current market’s noise and clutter by viewing enterprise-class IoT applications development and support as a unified challenge that can be managed by a single, scalable solution.”
Article Topics
DevOps | edge applications | IIoT | IoT | low-code | Prescient Devices | venture capital
Comments