FogHorn Systems, a start-up based in Mountain View, California, announced $30 million in Series B funding for its software stack designed for the industrial IoT (IIoT) edge computing segment.
FogHorn has built a complex event processing (CEP) - driven edge analytics software for on-premises edge computing. The software has a very small footprint enabling it to deliver real-time analytics to resource-constrained edge devices such as PLCs, gateways and industrial PCs. FogHorn recently enhanced its CEP platform with a new "Lightning ML" edge machine learning solution that can be used to train and execute machine learning algorithms and other advanced data science models on streaming sensor data. FogHorn says this facilitates the creation and iterative enhancement of “digital twins” and other sophisticated machine learning and AI models without the need to send all the sensor data to a cloud or data center for processing.
FogHorn's “edge intelligence” software targets industrial and commercial IoT application, such as complex machinery packed with sensors. For performance and cost reasons, FogHorn argues data from industrial equipment mostly should be processed locally and not sent to a distant cloud. On-premises computing provides better latency for near real-time feedback. It can also minimize the volume of data to be uploaded to the cloud. FogHorn's software is being used by OEMs and systems integrators. The company is also working directly with end customers in manufacturing, oil and gas, power and water, transportation, renewable energy, mining and agriculture, as well as Smart Building, Smart City and connected vehicle applications.
The new funding round was led by Intel Capital and Saudi Aramco Energy Ventures with new investor Honeywell Ventures and all previous investors participating, including Series A investors March Capital Partners, GE Ventures, Dell Technologies Capital, Robert Bosch Venture Capital, Yokogawa Electric Corporation, Darling Ventures and seed investor The Hive. The company has raised $47.5 million to date.
“This major round of funding by many of the world’s largest and most innovative technology and industrial companies will enable FogHorn to continue its drive for industry-first innovation in the IIoT market segment,” said David C. King, CEO of FogHorn. “We have seen unprecedented interest from customers and partners in a huge variety of industries for advanced condition monitoring, predictive maintenance, asset performance management and process optimization solutions.”
- FogHorn is headed by David C. King (CEO), who previously co-founded AirTight Networks and served as its Chairman and CEO. Prior to AirTight, he served as Chairman, President and CEO of Proxim Inc., a pioneer in WLANs and the first publicly traded Wi-Fi company.
