FORMER DIGG & EQUINIX CO-FOUNDER STARTS IoT FUND AS IoT FUNDING GROWS

: Jay Adelson, the co-founder of news aggregator Digg and data center Equinix, has raised $50 million for his new IoT venture capital fund named Center Electric, according to Fortune. The company has already invested in 11 IoT startups including August, Parkifi, and PaperSpace.

Investments in IoT startups have gone up steadily from $34 million in 2010, to $341 million at the end of 2014, according to data from CrunchBase. As the IoT ramps up, and startups begin releasing new IoT products, more venture capital firms, like Center Electric, will pop up and existing venture capital firms will likely look for funding opportunities.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s