Greenwave Systems is an Irvine, CA-based global IoT software and managed services provider whose core product is the AXON Platform used in next-generation IoT systems, routers, video and wireless products. The company intends to use the new funding to accelerate global expansion, increase and diversify its pipeline of strategic accounts, and expand into mobile infrastructure for M2M solutions. Greenwave raised $45m in a two-phase Series C and secured a $15m mezzanine facility from BDCA as part of the financing. The first phase was led by EDBI, while Singapore Technologies Telemedia (STT) invested in the second, majority portion; existing investors The Westly Group and E.ON also contributed and nominees of EDBI and STT joined the board. Greenwave has over 240 employees worldwide, recently opened an R&D center in Singapore and an office in San Jose, and added major new customers. It has strengthened its business relationship with Verizon, which is shipping the FiOS Quantum Gateway that Greenwave helped develop.

Total raised

$75M

Funding rounds

4

Latest round

Series C

Latest activity

Jan 2016