$1.3M funding round led by Moneta Ventures poised to accelerate the development of IoT devices.
Bekonix, Inc., a no-code SaaS company developing a platform to design and build smart-connected hardware-software products, and IoT devices, announced a $1.3 million seed funding round led by Moneta Ventures. This announcement comes after the general availability of the Bekonix platform. Early customers include independent innovators, commercial SME’s and enterprise companies.
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“With our 100% no-code platform, Bekonix is seeing success with innovators not only by making it faster and easier to make smart, connected IoT devices, but in broadening the types and number of companies that can create deep-technology products,” said Daniel Kaye, Co-Founder & CEO of Bekonix. “Moneta is the ideal partner for Bekonix. In addition to their reputation as a top-tier, founder-friendly VC, their engagement as an operational partner and experience scaling companies positions us well for our growth phase. We are poised to enable innovators and companies to introduce commercial-grade hardware-software innovation and IoT devices at a fraction of the cost, complexity, and time compared with the traditional method. We’re grateful to our early customers for their tremendous insights and input and the role they have played in proving the platform’s power. We’re also grateful for our existing investors who helped us get here, including our pre-seed funding from Growth Factory and Evolution Ventures.”
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Bekonix is poised to address some of the tough barriers to the development and adoption of smart-connected technology and IoT by greatly reducing complexity, cost, and time-to-value. The 100% no-code Bekonix Platform uses a drag-and-drop approach to the development of hardware, software, and applications, enabling innovators and companies to quickly prototype real use cases using off-the-shelf components, iterate rapidly to market/customer feedback and then finalize their designs for production. This reduction in time to establish ROI reduces the cost and time-to-value for market-ready products and avoids expensive failures. With easy integration and the established IoT cloud backend platforms, the speed to value is drastically reduced.
“The Bekonix platform enables an entirely new audience to become creators – to design and build IoT based products that deliver amazing customer experiences. Bekonix provides enterprises an approachable platform for building new products and adding smart tech to existing ones”, said David Allen, Partner, Moneta Ventures. “IoT is a cornerstone of digital transformation. We see Bekonix as key to reducing complexity, enabling rapid prototyping, and reducing time to market, ultimately enabling a much broader profile of companies, and people, to participate in the next wave of smart product development. We are incredibly excited to be partnering with the Bekonix team in pursuit of this mission.” David will be joining Bekonix’s board.
“With this round of funding, our team is well positioned to drive adoption of our platform and help businesses benefit in our proven segments wearables, modern furniture, lighting, signage, toys & games, and education”, said Jyoti Das, Co-Founder & President at Bekonix. “This sets Bekonix up to scale rapidly and drive innovation for our enterprise partnerships in AgTech, logistics, med-tech and Industry 4.0 use cases”.
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