Bytebeam, a B2B startup based in Bengaluru that simplifies Internet of Things (IoT) solutions, has received $3 million in seed funding from Together Fund, Accel, and STRIVE VC.
AdvantEdge VC, backed by the Motherson Group, Phanindra Sama, founder of redBus; Tanmai Gopal, cofounder of Hasura; Vimal Kumar, founder of Juspay; Mekin Maheshwari, former CPO at Flipkart; Deepak Anchala, founder of Slintel; Aakrit Vaish, founder of Jio Haptik, and other angel investors were among those who participated in the round.
According to the startup, the funds will be used to develop technical skills, extend the platform offering, and grow a business with reach across verticals such as electric transportation, agritech, dronetech, and smart appliances.
“Cloud services for IoT currently represent a $14 Bn market opportunity growing at 48% CAGR,”Gautam BT, CEO, and co-founder of Bytebeam.
Bytebeam enables businesses to handle all their IoT needs from a single platform. Customizable dashboards for data analytics and insights are available on the forum. Companies may deploy air upgrades and bug fixes with a button.
Bytebeam‘s mobile SDKs also make data synchronization easier between devices and mobile apps. The platform’s security and privacy features include data encryption at the device level and role-based access control to prevent unauthorized access.