Cthings.co secures roughly $5 million in funding round to drive global expansion
Cthings.co, an end-to-end 5G edge solution provider, has closed a Series A investment round, raising PLN 20 million (roughly $5 million). The funding comes from investors including Orlen VC, PKO VC, Freya Capital and Level2 Ventures.
“We’re excited to announce that Cthings.co has reached another significant milestone by closing a Series A investment round that will propel us into a new international development phase,” says Cthings.co in a company blog post.
Cthings.co notes that the timing of this investment is crucial as demand for its products and services continues to increase in the European and U.S. markets. With the rise of industrial 5G networks, Cthings.co says its solutions are well-positioned to meet the evolving needs of businesses in these regions.
Cthings.co CEO, Arnold Wierzejski, says: “The investment consortium is a group of the largest investors from the CEE region, and we are very positive about further cooperation on several levels – technological, business and financial.”
The company notes its solutions bridge the gap between IoT platforms, 5G connectivity, and industrial operations. According to Cthings.co, its offerings enable enterprise businesses to boost the potential of company processes and assets. Firms can optimize their operations by leveraging systems and data. Additionally, the company says telco businesses can benefit from Cthings.co’s offerings as they aim to enable them to monetize and expand 5G IoT solutions across different industries.
“We would like to thank all of those who have supported us so far – customers, partners, investors, team members,” states Cthings.co in a blog post. “We are excited to further develop our innovative solutions and help more customers turn hidden data into better decisions.”
Cthings.co was recently named one of the winners of the 5G Challenge held in Lisbon for its hybrid cloud platform, Orchestra.
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Article Topics
5G | CThings.co | edge | funding | IoT
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