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GE, Ericsson Fund Company To Update 1 Billion IoT Devices

  • EE Times, Wednesday, June 29, 2016 8:10 AM
After the initial euphoria over the Internet of Things (IoT), the reality of the market is rapidly sinking in among investors, marketers and designers. The underlying technologies and ecosystem designed to support the elusive IoT market remain too immature to reap profits for many corporations and investors. In fact, anecdotal evidence shows that anyone pitching a startup in the IoT space faces kneejerk skepticism from the investment community. In short, IoT backlash has begun.  Against that backdrop, Resin.io, a London-based four-year-old IoT startup, announced Monday (June 27) that it has secured $9 million in funding from DFJ, GE Ventures, Ericsson, and Aspect Ventures. Resin.io’s technology offerings provide a glimpse into the bigger challenges — thus far little discussed — facing IoT builders and designers.

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