ETH Zurich-founded smart logistics spinout Nexiot has won backing from Credit Suisse and Die Mobiliar Versicherungen as it aims to secure additional international business for its products.

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

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