The startup will use the capital to expand into the US, as well as for R&D
Malaysian startup Pipeline Network, which develops an IoT cellular network to connect various electronic and electrical devices including light bulbs, has secured US$1 million in initial round of funding, led by US-based Helios Ventures, a source close to the development told e27.
A few unnamed investors also participated in the round, which values the startup at around US$12 million.
The company will use the proceeds from this round to expand into the US, as well as for R&D, the source added.
An email to Pipeline’s Co-founder Afeez Aziz seeking more details of the funding did not elicit any response till the time of publishing this article.
Established in 2011 by A Aliza Aziz and Afeez Aziz, Pipeline connects all types of devices, and enables convergence of data.
The company offers a number of products for various purposes. Its Smart Metering Infrastructure will prevent electricity theft, and also enables utilities to invoice clients based on actual consumption rather than estimation. Its ability to predict and control power wastage and outage, real-time supply and demand matching can be achieved.
Its another product, called Pipeline Cloud, helps companies to increase transportation efficiency, lower OPEX, and improve safety. The real-time traffic, transit, parking data, and even vehicle diagnostics on Pipeline Cloud will help in making a truly smart transportation a reality.
Pipeline’s Smart Agriculture provides farmers with a wealth of information to build up a record of their farm, eventually improving the decision making. From small farms to large plantations, it is able to help to increase yield and efficiency for farmers.
The post Exclusive: Malaysian IoT startup Pipeline Network raises US$1M led by Helios Ventures appeared first on e27.
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