Mnubo secures $16.5 million in series B funding round to accelerate expansion of IoT solutions

Mnubo, an IoT data analytics and artificial intelligence (AI) provider, has raised $16.5 million in a series B financing round to speed up the global expansion of its SmartObjects IoT analytics and data science solution. Throughout the world, SmartObjects aims to helping service providers and equipment manufacturers in furthering their data monetisation strategy. Johnson-Controls Hitachi is among the prominent manufacturers who are using SmartObjects. Greg Barats, president and CEO of HSB Group, a Munich Re arm that led the financing round and also a strategic commercial partner of Mnubo, said: “We’re thrilled about this strategic partnership with Mnubo to bring to market a suite of financial and insurance related products based on artificial intelligence and machine Learning on IoT equipment datasets. HSB can help Mnubo’s customers realize meaningful results from their IoT investments."