Saudi Aramco
Assembly Line
Industrial IoT Leaders Invest $30 Million in FogHorn's Series B Funding
FogHorn Systems today announced it has received a Series B round of funding totaling $30 million to support its disruptive innovation in the Industrial IoT (IIoT) edge computing market segment. Intel Capital and Saudi Aramco Energy Ventures led the round, with new investor Honeywell Ventures and all previous investors participating, including Series A investors March Capital Partners, GE, Dell Technologies Capital, Robert Bosch Venture Capital, Yokogawa Electric Corporation, Darling Ventures and seed investor The Hive. This new round brings FogHorn’s total funding to $47.5 million and will be used to significantly expand the company’s engineering resources and global go-to-market presence.
FogHorn recently extended its technology leadership position in the IIoT market segment by introducing Lightning ML, the world’s first edge machine learning solution. Built on top of FogHorn’s pioneering CEP (complex event processing)-driven edge analytics software launched in 2016, Lightning ML breaks new ground by giving industrial customers the ability to train and execute machine learning algorithms and other advanced data science models on streaming sensor data right at the source of the data. This facilitates the creation and iterative enhancement of “digital twins” and other sophisticated machine learning and AI models without the need to send all the sensor data to a cloud or data center for processing.