IOTAS secures $8.5 million in series A funding to further enterprise ‘IoT as a service’ mission

IOTAS has successfully completed its series A funding of $8.5 million (£6.9m) to boost its enterprise software as a service (SaaS) offering, expand into international markets and bring about a new platform for smart communities. The funding round was led by TELUS Ventures and included participation by Liberty Global and Intel Capital, an early investor. To date, IOTAS’s total investment exceeds $17m (£14m).Sce Pike, founder and CEO of IOTAS, said: “With this new round of funding we’re excited to be working with enterprises, integrators, and dealers to enable them to offer IoT as part of their own offering. We have seen about 20% of all new residential construction embracing PropTech this year with at least a few smart devices, and we forecast that number will double next year.