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Pratexo Inc., an Austin, Texas-based intelligent edge computing and distributed cloud platform for AI, IoT and Industry 4.0, has closed a $ 3.5 million seed funding round.
The round was led by BCP Blitz LP, Raiven Capital and Northscaler, as well as a consortium of business and technology leaders from the USA, Canada and Scandinavia.
The company intends to use the funds to accelerate both platform development and go-to-market efforts in North America and Europe.
Led by Blaine Mathieu, CEO, Pratexo offers a technology platform to support IoT and artificial intelligence strategies and initiatives that require computing power at the edge, such as sensors nearby or cameras at remote locations. Suitable for industries such as marine, energy, utilities, defense, and smart buildings / cities, Pratexo uses open and proven technologies to configure the most appropriate architecture for a particular type of edge application.
In addition to the investment round, the company announced that it has added seven new members to its advisory board, most of whom are also investors in the company. The advisory board now includes:
- Dr. Nimi Abili: Chair of the Institute of Marine Engineering, Science and Technology (Houston office) and Consulting CTO for numerous multinational energy companies.
- Trond Riiber Knudsen: 25 years as Global Senior Partner at McKinsey. Now leads the TRK Group, which focuses on disruptive technologies.
- Marianne Lie: Executive Vice Chairman of the shipping giant Wilhelmsen ASA and Secretary General of the Forum for Environmental Technology.
- Harald Norvik: Former CEO of Statoil (now Equinor) and Chairman of Telenor. Current board member of ConocoPhilips.
- Peter Norwood: Google Site Leader (Austin, TX) and Engineering Director. One of the original Tivoli employees and closely associated with the Austin VC community.
- Frode Odegard: Chairman and CEO of the Post-Lean Institute – a research and consulting firm that helps companies, investors and policy makers tackle technology-driven disruptions.
- Bill Scott: Engineering leader and UX guru who was involved in the early development of Yahoo, Netflix and Paypal.
FinKMU
02/07/2021
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