Bavarian startup HiveMQ has raised €40 million in a Series A funding round. The HiveMQ solution helps facilitate communications between connected IoT devices; a lot of connected devices. The fresh honey will enable the company to press forward with further platform developments as it continues to scale. To date, HiveMQ has raised a total of €49.3 million, announcing their Series A almost a year to date since Seed.
According to an IDC report, within the next three years, approximately 40 billion IoT devices will be connected to the internet, each ready to send and receive data. Granted, these devices certainly aren’t sending each other lengthy emails with attachments, but data is data, and at 40 billion units, the figures escalate quickly.