Tech Company Financing Transactions
Xyte Funding Round
Xyte secured a $30 million funding round on 1/16/2024. Investors included Intel Capital, BlackRock and Mindset Ventures.
Transaction Overview
Company Name
Announced On
1/16/2024
Transaction Type
Venture Equity
Amount
$30,000,000
Round
Undisclosed
Investors
Proceeds Purpose
The company intends to use the funds to accelerate the geographic expansion of its servitization platform, Xyte Device Cloud.
Company Information
Company Status
Private & Independent
Industry
Software
Mailing Address
5 Agur St. Kochav Yair
Tel Aviv, Undisclosed
Israel
Tel Aviv, Undisclosed
Israel
Phone
Undisclosed
Website
Email Address
Overview
As software and hardware developers, we were frustrated by the complexity of connecting and managing devices in the cloud. So, we decided to develop a suite of services that would allow all hardware manufacturers to enhance their devices with the most comprehensive and advanced cloud-based services, promoting customer engagement and permitting a new business model by facilitating the shift from one-time sales to subscriptions.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Omer Brookstein
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