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.