Update: ST Telemedia invests in US-based Internet of Things company
Singapore
SINGAPORE Technologies Telemedia (ST Telemedia) on Tuesday announced a strategic investment in Irvine, California-based Greenwave Systems, which provides Internet of Things (IoT) systems and managed services. ST Telemedia is providing the majority of the funds in Greenwave's latest US$45 million Series C financing round. EDBI, which is the corporate investment arm of the Singapore Economic Development Board (EDBI), is also a major investor in the Series C financing round.
Greenwave is an IoT and M2M (machine-to-machine) enabler that works with telecommunication providers, utilities and other companies to develop solutions for managed services, including home automation, connected lighting, energy management and other services. M2M refers to direct communication between devices using any communications channel.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
AIG beats profit estimates on underwriting strength
Huawei lab barred by US regulators as part of crackdown on China
Kraft Heinz misses sales estimates as higher prices deter customers
Marriott boosts full-year profit view after mixed Q1 results
J&J advances US$6.48 billion settlement of talc cancer lawsuits
US holds quarterly debt sale steady, starts buybacks this month