Cisco Systems, Inc. (NASDAQ:CSCO) has invested $150 million in early-stage organizations connected to the Internet of Things market. Cisco is starting with investments in two startups and an accelerator. Cisco Investments participated in funding rounds of Evrythng, Ayla Networks, and Alchemist Accelerator.
This new funding round adds to Cisco Investments’ previously announced $100 million commitment to startups that are focused on the Internet of Things. Cisco Investments has stake in over 80 companies and 35 funds through a $2 billion portfolio. Cisco Investments has over 40 people that are responsible for making investments in companies. Some of the other companies Cisco Investments put money into includes Whiptail, Belly, Phunware, and Platfora.
Here is some background on the companies:
– Ayla raised $14.5 million in Series B funding from Cisco Investments, the International Finance Corporation, Lean Venture, SAIF Partners, SFJ Ventures, Crosslink Capital and Voyager Capital. Ayla plans on using the funding to expand its business into China.
– Evrythng raised $7.5 million in Series A funding from Cisco, Atomico, BHLP LLC, and Dawn Capital.
– Alchemist Accelerator is an enterprise accelerator in the Bay Area that has received backing Salesforce.com, Citrix, and Microsoft.