Prescient Devices, a platform for internet of things (IoT) software and service development, today announced that it raised $2 million in seed funding. The company says it’ll put the proceeds toward product ideation and ramping up its sales and marketing programs.
Global IoT revenue hit an estimated $1.7 trillion in 2019, when the number of edge devices connected to the internet exceeded 23 billion, according to CB Insights. But despite the industry’s growth, not all organizations think they’re ready for it. In a recent Kaspersky Lab survey, 54% said the risks associated with connectivity and integration of IoT ecosystems remained a significant blocker.