MOUNTAIN VIEW, Calif., Feb. 8, 2016 /PRNewswire/ -- VIMOC Technologies, Inc. today announced it has completed the first closing of its initial round of seed funding for $2.4 million led by early-stage investor Morado Ventures. Other investors participating in the round include Flex Lab IX and ET Capital Partners, along with several angels including Ted Lachowicz, Eugene Rosenfeld and Glenn Turner. Capital raised will help the company meet existing demand for products and services as well as the expansion of product offerings for "Smart City" infrastructure and services. The company plans to complete the final closing in February.
"VIMOC's approach to Landscape Computing is an important part of how the billions of connected devices that are part of the Internet of Things will drive understanding of the data being collected at scale," said Ash Patel, founding partner of Morado Ventures. "We believe that extracting value from the data being collected by these devices requires extending computational capacity to the edge of the network, something VIMOC is executing well on."
VIMOC's distributed computing platform extends cloud computing near the edge of the network, offering high-scalability, security and cost-effective management of smart infrastructure services. By migrating intelligence closer to the edge of the network, the very environment in which we live becomes the computer.
"This round of funding validates the market demand for Landscape Computing," said Tarik Hammadou, Co-Founder and CEO of VIMOC Technologies. "We are proud to have such a distinguished team of financial and technology leaders offer their time, energy and capital to help us meet the demand from our customers for smart city services and next-generation Landscape Computing applications."
About VIMOC Technologies
VIMOC Technologies, Inc. has developed the world's first open platform for the Understanding of Things (UoT) that enables citizens, businesses and cities to gather knowledge and learn so that we might better understand how to manage and optimize the way by which we work and live. The Internet of Things is about connecting the world; VIMOC's Landscape Computing network is about understanding it. By extending cloud computing near the edge of the network, cities, businesses, communities and enterprises can gather intelligence to better manage resources and create operational efficiency. www.vimoctechnologies.com
SOURCE VIMOC Technologies, Inc.