Corporates connect to Afero’s series A

May 20, 2016 • Thierry Heles

Samsung has led a $20.3m first funding round for Afero that also included SoftBank, Sumitomo, Sanshin Electronics and Infocom-backed Fenox.

US-based internet of things (IoT) technology developer Afero closed a $20.3m series A round on Wednesday led by consumer electronics manufacturer Samsung through its $100m Catalyst Fund.

Presidio Ventures, a corporate venturing subsidiary of conglomerate Sumitomo, internet and telecoms group SoftBank, electronic components trading company Sanshin Electronics and Fenox Venture Capital, which manages a $20m fund on behalf of IT services firm Infocom, also participated.

The investors were rounded out by investment firm Assembly Partners and angel investor…

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