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Enterprise Security Magazine | Monday, June 28, 2021
Foundries.io delivers FoundriesFactory, one of the first cloud-native solution for embedded technologies that reinvents IoT, and counts tier-one OEMs, silicon business leaders, and SoC companies among its customers and partners.
FREMONT, CA: Foundries.io, a leader in cloud development and deployment solutions for secure IoT and Edge devices, recently revealed that it has raised 8 million dollars in Series A funding from IQ Capital, Crane Venture Partners, and Backed VC. Foundries.io delivers FoundriesFactory, one of the first cloud-native solution for embedded technologies that reinvents IoT, and counts tier-one OEMs, silicon business leaders, and SoC companies among its customers and partners, such as ARM, NXP Semiconductors, MontaVista, STMicroelectronics, and WINSYSTEMS.
“The industry needs a new cloud DevOps approach to IoT that is built from the ground up to reinvent how software is developed and deployed. At Foundries.io, our team’s deep expertise and experience has helped us to reinvent how devices are secured and managed. We believe the latest software is always the most secure and most trusted, so we have created the FoundriesFactory platform to deliver to the embedded industry an easy to use cloud-native solution for secure open source-based software development and management,” said George Grey, CEO, Foundries.io. “OEMs can now couple their hardware innovations to a secure, production-tested base software platform, enabling freedom of choice of enterprise software and cloud providers using containerized applications and services.”
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Foundries.io has developed a transformative, open-source platform that provides OEMs and Systems Integrators with a common software base to develop, test, deploy, manage, and maintain secure IoT and Edge devices through a single cloud-native solution by technology industry pioneers George Grey and Ian Drew. As a result, businesses can now secure lifetime support for connected devices, unlock innovation, and increase speed-to-market while saving time and money for the first time.
“Foundries.io is leading an industry-wide movement to secure any software running on connected edge devices. The company has created the first truly horizontal, cloud-native, hardware-agnostic operating system and device management platform, enabling OEMs to focus on their applications and services, while being secure in the knowledge that their devices in the field are always kept safe, by using up-to-date software that is fully optimized to their own hardware designs,” said Ed Stacey, Managing Partner, IQ Capital. “Device security is currently a major bottleneck to full IoT adoption – and is likely to remain so while embedded engineering talent continues to be in short supply. With a growing list of global Tier-1 customer advocates, and influential open-source developers supporting its platform, Foundries.io is set to transform the way that Edge devices are designed, delivered and managed.”
The new funding follows rapid development since the company’s launch in 2017 and seed round funding in 2019, which has already resulted in major partnerships and a robust pipeline. Foundries.io’s aggressive expansion ambitions, which include both talent recruitment and marketing, will be aided by the Series A funding, allowing the platform to reach out to more innovative enterprises throughout the world.
“The IoT industry is ripe for a horizontal platform that allows OEMs to own their data and security strategies, without being locked-in. Governments are setting security standards around the world for consumers and enterprise devices that will need to be met. The market is tripling in the next decade for IoT devices and so we are ready for this inflection point,” said Ian Drew, Chairman, Foundries.io.
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