A £6 million investment will enable software company IOTech Systems Ltd to establish a new headquarters in Edinburgh and create more than 50 new jobs, as it embarks on a global expansion programme.
Launched in April 2017, the company specialises in developing computing solutions for the control of devices and the management of data.
The funding will also help accelerate new ‘out of the box’ product delivery, as it focuses on sales in the USA, Europe and the Asia-Pacific region; it has bases in Edinburgh, Newcastle and Taiwan.
The company’s latest Series A funding round was led by Dell Technologies Capital, with additional investment from a number of sources, including the Scottish Investment Bank.
Keith Steele, IOTech founder and CEO (
www.iotechsys.com), said: “This investment is recognition of the tremendous progress IOTech has made on three fronts: the release of ground-breaking software products; the signing of key partners to expand the global availability of our products and services; and the adoption by customers in a number of critical markets.”
Kerry Sharp, director of the Scottish Investment Bank, said: “IOTech has gone from strength to strength since establishing its R&D centre of excellence in Edinburgh, and this latest investment is testament to the hard work and vision of the company’s leadership team, delivering ambitious products that will have global appeal.”