IoT startup Roambee receives Series B Funding

IoT-based firm Roambee receives $4.1 million in funding, partners with T-Systems

IoT startup Roambee receives Series B Funding

With Internet of Things (IoT) technology emerging as the hottest tech innovation to invest in, investors are scouting potential areas for striking gold. California-based Roambee,IoT startup, primarily devises solutions for the logistics and supply chain sector. The startup was in the news recently for bagging a second round of funding, approximated to $4.1 million from Deutsche Telekom Strategic Investments (DTSI), as well as other Silicon-valley investors. The startup received its series A funding of $2.5 million in May 2015. Sanjay Sharma, CEO and Founder, Roambee says, “DTSI’s robust history of success and the bar they set while selecting their investments is truly remarkable. We feel proud to be part of the portfolio.” He also spoke about expanding global footprint.

Roambee leverages proprietary analytics, predictive reporting, and open application program interfaces (APIs) to help their clients track assets utilizing an array of hardware, software, and sensor data. The solution comprises of “Bees”, a compact wireless portable sensor device, along with a cloud-based software platform.

Data from multiple streams is collated by the Bees and the software to furnish machine learning-based predictive analytics. Roambee’s value proposition lies in its ability to enable real-time monitoring of the temperature, humidity, location, movement, tampering of goods through the entire shipment, and relay back actionable information in case of an anomaly.

As an addition to the funding, Roambee announced its partnership with T-Systems, a Deutsche Telekom subsidiary to foster real-time visibility solution for goods and other assets across US, Europe, Asia, and Africa. Through this partnership Roambee will be able to better support its client base worldwide as T-Systems’ ecosystem will bestow them with the much-needed infrastructure and system integration expertise. “This partnership integrates real time alerts and actionable intelligence into our product. This in turn has helped drive efficiencies for over 100 customers across sectors like logistics, IT, pharmaceutical, and consumer products,” adds Mr. Sanjay.

Roambee has an innovation centre in Ahmedabad, as well as a manufacturing unit in Delhi. Recent plans from the startup revolve around scaling up its manufacturing in India. This would not only help the firm to offer its devices and services at much economical rates, but also help Roambee to strengthen its data analytics portfolio.

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