IOT Solution Supplier Ayla Networks Pools USD60 Million in Round-D Financing
Zhang Xia
/SOURCE : Yicai
IOT Solution Supplier Ayla Networks Pools USD60 Million in Round-D Financing

(Yicai Global) Nov. 3 -- Ayla Networks Inc. has pooled USD60 million in its round-D financing, with Sunsea Telecommunications Co.[SHE:002313] as the main investor, reported yesterday.

Funds raised this time will mainly go to advancing its creation of commercial value through data and further the construction of an ecosystem for partners, Ayla Networks said. It will also use the funds to develop and enhance its Internet of Things (IOT) platform, hone its management and application of devices and data analysis ability, combine its products and services with those of its best vertically-cooperative partners, create a global IOT ecosystem and expand its global businesses to offer better services to the Asia-Pacific, North America, Caribbean, Latin America, Europe, Middle East and Africa.

Founded in 2010, Ayla Networks is based in Silicon Valley, California in the US. Its IOT cloud platform solutions offer enterprises end-to-end services, which enable any devices to connect to its cloud and apps. Ayla Networks mainly profits by charging for cloud data and relevant project services.

In the first half of 2014, Ayla Networks founded its Shenzhen branch to enter China's IOT market, whose major clients are intelligent hardware manufacturers. Ayla Networks has established cooperative ties with local enterprises such as Hisense Group Co., Midea Group Co. [SHE:000333], TCL Corp. [SHE:000100], Galanz Group Co., and Chigo Holding Ltd. [HK:0449]. It also cooperates with firms such as Fujitsu Ltd. [TYO:6702] in Japan.

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Keywords: MSCI , Internet of Things