News and Announcements
Arcoflex Raises $300K in Seed Funding, Completes Prototype Testing & Prepares for Series A Round
- Published July 26, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
- Arcoflex successfully raised seed funding of $300K to allow it to complete software platforms and hardware prototypes;
- All prototype testing is now complete and a scale-out production partner has been found to help us design and build at scale;
- Customers have been found for a minimum of 500 units over the next 3 months from leading Australian feed manufacturers for our silo solution;
- Clients in the USA and Canada are ready to enter contracts once we can guarantee production at scale. MOUs are being prepared for 200o units;
- New sales avenues have been found in the USA for motor maintenance that opens up new sales channels not previously identified;
- Arcoflex is now preparing for a Series A funding round.
ABOUT ARCOFLEX
ArcoFlex Automation is one of the first IoT companies to bring remote monitoring and control to a commercial footing. IoT comes saturated in hype and promise so with ArcoFlex bringing operating pilots, real customers and proven technology to the table, this is the first time that tangible solutions can be measured and assessed for growth and potential. The company has completed its research and development phase and is now ready to go commercial, right across the globe.
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