NEW YORK, Feb. 10, 2016 /PRNewswire/ -- scriptr.io, the cloud platform for IoT solutions, has raised $4 million in Series A funding led by Middle East Venture Partners (MEVP), Berytech Fund, and Insure & Match Capital (IM). Headquartered in New York City, scriptr.io will use the funding to expand business operations in the U.S. which includes opening a new office in San Francisco. The company currently has development teams in Beirut, Lebanon and Hyderabad, India. The Series A round will also drive continued research and development.
scriptr.io is a powerful, cloud-based platform that dramatically reduces the time and resources required to develop, deploy and support IoT solutions. scriptr.io has built the first-of-its-kind cloud platform driven by a browser-based integrated development environment that enables developers to rapidly create and run custom web services. It removes the burden of hosting infrastructure, database & application servers, libraries that integrate with third party APIs and other infrastructure deployment and management operations. scriptr.io allows for easy migration from prototyping to production at scale without having to re-design or re-write the solution.
The platform allows users to access:
- More than 60 APIs and connectors that dramatically simplify developing an application and reduces the time to market of an application
- Software Development Kits (SDKs) that support the majority of industry IoT platforms
- Connectors to a plethora of leading IoT vertical solutions in integration, health, automotive, and big-data. Current connectors include: CarVoyant, fitbit, little Bits, and several others.
"IoT is expected to add $1.7 trillion to the global economy by 2020.1 We are fueling this growth by reducing barriers to entry for companies across all industries, allowing IoT innovation to evolve and to demonstrate real business impact. With scriptr.io, developers can build their own cloud APIs in minutes, and products can reach the market much faster without large up-front investment and high maintenance costs. This is critical in today's rapidly-changing IoT environment," said Rabih Nassar CEO and Founder of scriptr.io. "This funding will allow us to continue developing our technology and provide our customers with robust, state-of-the-art cloud development and run-time capabilities."
"scriptr.io is ripe to become one of the leading cloud and fog computing software platforms in the IoT ecosystem, providing powerful micro-service capabilities, APIs and tools to build great IoT applications, compress the time to market and reduce the total cost to build and operate solutions," said Walid Mansour, Managing Partner at MEVP. "We feel strongly about the prospects of this company and the solid team behind it. We are bullish about the prospect of the IoT transformation that will shape up our economies."
1. Research firm IDC, June 2015