Deutsche Telekom invests in IoT start-up Axionize
April 18, 2018
Deutsche Telekom has invested in Axonize, an Israeli start-up specialising in IoT services based on Microsoft Azure. The $6m round A was led by Israeli Venture Capital firm Meron Capital and included existing investors StageOne Ventures and US-based Cornerstone Venture Partners.
Axonize and its IoT orchestration platform were chosen for this investment, following a rigorous selection process, due to its service provider capabilities that include cross-application orchestration and management, and fast development times per application.
“Axonize has developed a unique IoT orchestration platform which addresses our and our customers’ IoT requirements,” said Anette Bronder, head of the digital- and security department at Deutsche Telekom. “Apart from our investment, we see great collaboration potential because Axonize ideally complements Deutsche Telekom Group’s IoT platform ecosystem worldwide.”
Axonize is purpose-built for IoT service providers. Among its capabilities is the ability to orchestrate, connect and manage multiple IoT applications, granting service providers management capabilities across all applications. The company has an architecture based on a pre-built, flexible AnyApp application layer that resides on a robust and secure Microsoft Azure cloud.
“We are excited to continue investing in Axonize in this funding round,” said Tal Slobodkin, board member at Axonize and managing partner at StageOne Ventures. “We have seen the management team take this company from an idea to accomplishing impressive milestones. This investment by Deutsche Telekom is another vivid demonstration of their ability to create substantial value for service providers.”
Instead of developing an entire application for every customer, its pre-built application can be customised to specific needs. This reduces IoT build time to a handful of days, rather than months, letting IoT service providers offer their customers a much higher RoI on IoT projects. Another benefit of the architecture is that it is completely open to any sensor, hardware, protocol or system from any industry.
“The backing of Deutsche Telekom for our IoT orchestration platform is a strong validation for our unique service provider capabilities,” said Janiv Ratson, CEO of Axonize. “Their IoT business is both visionary and extremely practical and will have a transformative impact on digitisation of their enterprise customers.”
Axonize will use the funding from this round to invest in enhancements of its platform and accelerate the ramp-up of its sales team.