Nexiot, a Switzerland-based logistics digitisation technology spinout from Eidgenössische Technische Hochschule (ETH) Zürich, has attracted €13m ($14.7m) in series B funding, Tech.eu reported on Tuesday.
The round included insurer Die Mobiliar Versicherungen and SVC, a venture capital vehicle for financial services firm Credit Suisse. Nexiot does not appear to have disclosed details of its earlier funding.
Formed in 2015, Nexiot develops internet-of-things products and services that provide logistics clients with more effective control of their operations.
The company’s offering includes internet-connected sensors, cloud data processing services and energy-efficient technologies that facilitate connectivity between pieces of industrial equipment.
The infusion of series B capital will support a recruitment drive for Nexiot as it looks to push on with its international sales strategy from offices in Hamburg, Germany and Dallas, Texas. It also plans to put funding into developing new logistics technologies, according to Startupticker.
Marcel Scheurer, Nexiot’s chief financial officer, said: “This development highlights our growing global success story and strengthens our leadership position in enabling the digital supply chain with true end-to-end solutions, in order to increase efficiency, as well as generate additional revenue streams and increase value for our clients and partners.”

Nexiot, a Switzerland-based logistics digitisation technology spinout from Eidgenössische Technische Hochschule (ETH) Zürich, has attracted €13m ($14.7m) in series B funding, Tech.eu reported on Tuesday.

The round included insurer Die Mobiliar Versicherungen and SVC, a venture capital vehicle for financial services firm Credit Suisse. Nexiot does not appear to have disclosed details of its earlier funding.

Formed in 2015, Nexiot develops internet-of-things products and services that provide logistics clients with more effective control of their operations.

The company’s offering includes internet-connected sensors, cloud data processing services and energy-efficient technologies that facilitate connectivity between pieces of industrial equipment.

The infusion of series B capital will support a recruitment drive for Nexiot as it looks to push on with its international sales strategy from offices in Hamburg, Germany and Dallas, Texas. It also plans to put funding into developing new logistics technologies, according to Startupticker.

Marcel Scheurer, Nexiot’s chief financial officer, said: “This development highlights our growing global success story and strengthens our leadership position in enabling the digital supply chain with true end-to-end solutions, in order to increase efficiency, as well as generate additional revenue streams and increase value for our clients and partners.”

This article was originally published on our sister site, Global University Venturing.