ST Telemedia Leads Investment in IoT-enabler Greenwave
- Investment in Greenwave continues ST Telemedia’s expansion into contiguous next-generation technology platforms
- Greenwave’s award-winning IoT platform enables service providers and enterprises to deliver intelligent managed services to consumers
SINGAPORE, 5 January 2016 - Singapore Technologies Telemedia (ST Telemedia), a strategic global investor focused on the communications, media and technology sectors, today announced its investment in Greenwave Systems (Greenwave), an Internet of Things (IoT) software and managed services leader based in Irvine, California.
ST Telemedia is the lead investor, providing the majority of the funds in Greenwave's latest US$45 million Series C financing round. ST Telemedia is represented on Greenwave’s Board of Directors. Proceeds from this round of financing will fund Greenwave's accelerated global expansion on the back of its strong growth momentum, as well as provide growth capital for strategic investment.
Investing in Greenwave marks ST Telemedia's continuing investment strategy into next-generation technology platforms. It underscores the Company’s commitment to continually seek new growth opportunities, capture synergies within its global portfolio and build an integrated vertical stack from infrastructure to services and applications focused on enterprise data.
The IoT industry is growing exponentially as the number of connected devices in the household and within enterprises multiplies, enabled by the ability to remotely manage, monitor and control these devices using cloud-based applications and wireless technology.
Greenwave is an IoT and M2M enabler that works with telecommunication providers, utilities and other companies to develop solutions for managed services, including home automation, connected lighting, energy management and other M2M services. The company provides full life-cycle solutions delivery, from device and solutions design to connectivity software to integration of devices and applications with full interoperability. Its AXON platform® allows users to manage new devices and applications on an operator network – providing scale and control at the home gateway or on cloud instance. Today, Greenwave's solutions have been installed on millions of devices.
With its investment in Greenwave, ST Telemedia will participate in the attractive growth prospects of IoT while assisting with market insights, partnerships and portfolio businesses to accelerate Greenwave’s expansion in the Asia Pacific region.