MMB Networks raises $7 mln in Series B round led by Roadmap
MMB Networks, a Canadian Internet-of-Things solutions provider, has secured $7 million in Series B financing. The round was led by Canadian venture capital firm Roadmap Capital, and was joined by the company's existing backers, Arctern Ventures and VentureLink Funds. NXP Semiconductors, a Dutch semiconductors manufacturer, also participated as a strategic investor. Founded in 2008, Toronto-based MMB has developed an embedded software platform that enables connected devices. It said it plans to use the funds to expand the company's customer base, product portfolio and global presence. MMB also agreed to co-develop a suite of NXP silicon-based hardware products.
8 January 2016•4 mins read
