Home technology iot mODE bags $3 million in its series A round of funding

MODE bags $3 million in its series A round of funding

Iot

CIO Bulletin
2018-09-25

In series A round of funding, where the funding was primarily led by True Ventures, MODE, a startup based out of San Mateo, California has raised $3 million. The startup helps companies in the industry by collecting data from various sources to help businesses make smarter decisions.

The company specializes in moving sensor data from diverse sources to the cloud. Through its freshly obtained funding, the IoT solutions-startup will beef up its team and upscale its operations and help connect many more sensors to the cloud.

The company’s CEO Gaku Ueda said: “Data collection from the physical world is the first step in implementing automation, big data analytics, and artificial intelligence.” Ueda was in the Google maps team earlier. He further explained that his company lets the customer decide on how to utilize the data and they tend to focus more on data collection to address infrastructural challenges.

Justifying their investment Om Malik, Partner at True Ventures said that: “MODE has developed software technologies to harness this power and transform the industrial world.” The new round of funding brings MODE’s total tally to $5 million in raised money.