Axeda Raises $12 Mln, Names DeSisto President, CEO

Axeda Corp. said Tuesday it closed $12 million in growth funding led by JMI Equity. Other investors include Wipro and Mitsui & Co. Axeda also said that it appointed Todd DeSisto as its president and CEO. Foxboro, Mass.-based Axeda provides cloud-based service and software for managing connected products and machines.

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