Saudi Aramco Ventures Contributes to $10.4M Series A for IOTA Software

A Series A-extension funding round led by Altira Group, and supported by global investors including Saudi-based Aramco Ventures and Oxy Technology Ventures, has raised $10 million for IOTA Software Inc., a US-based developer of enterprise SaaS solutions. The investment will strengthen the company’s innovative data visualization platform designed for business intelligence in asset management and manufacturing processes.

Founded in 2023, IOTA Software offers a cloud-native platform that enables users to access critical business and operational data effortlessly. This empowers executives, production managers, and operators with the insights needed for performance optimization and informed decision-making.

“IOTA Software gives industrial enterprise customers the ability to easily bring together typically siloed critical business and operations data in control rooms and remote operating centers in a single pane of glass to improve asset performance,” J.P. Bauman, Partner at Altira Group, tells StartupScene.

With the new funding, IOTA plans to expand its engineering, product, and customer success teams, enhance its technology infrastructure, and ramp up marketing efforts. The company aims to solidify its position in the data visualization space and drive the digital transformation within the process industries.