Denvik Technology raises investment round for global expansion: All the details – Times of India
Domestic IoT solutions company Denvik Technology has raised a strategic investment round. The Chennai-based company’s investment round was led by CI Hub, a firm that invests growth capital in Indian companies to help them accelerate their global expansion. The investment will be used by Denvik to expand its customer base for Industrial IoT solutions further in Europe and the MENA region (Middle East, North Africa). The company will also use the funds to scale its team and accelerate market adoption of its latest IoT-driven smart solution for the global poultry farming market.
Prospects of the IoT solutions market
The market for IoT solutions is expected to grow rapidly over the next decade. The global IoT market is projected to grow from $478.36 billion in 2022 to USD 2,465.26 billion by 2029 at a staggering CAGR of 26.5%.
Agriculture is expected to be one of the fastest-growing sectors as IoT can be leveraged to help farmers improve profitability and increase operational efficiencies, as per the company. Denvik Technology will be able to help companies take advantage of the granular insights that will be available from connected smart devices.
More details on Denvik Technology
Denvik Technology was founded in 2007 and the company builds technology solutions for global corporations and startups for over 15 years. The company’s clientele includes global leaders in industrial and equipment automation in Europe and India. The team is especially passionate about leveraging technology to improve sustainability and help leave a better planet for the upcoming generations.
The company is incubated by the Crescent Innovation Incubation Council (CIIC) which is the incubation arm of the Crescent Institute of Science and Technology. Two of Denvik’s co-founders are also alumni of the Crescent Institute of Science and Technology.
Denvik’s latest proprietary product offering, “Ornithon”, is an IoT-driven device that offers solutions to help poultry farmers to improve profitability, operational efficiency and compliance. This technology claims to beat other market solutions and provide modern-day poultry farmers with a competitive advantage.
Prospects of the IoT solutions market
The market for IoT solutions is expected to grow rapidly over the next decade. The global IoT market is projected to grow from $478.36 billion in 2022 to USD 2,465.26 billion by 2029 at a staggering CAGR of 26.5%.
Agriculture is expected to be one of the fastest-growing sectors as IoT can be leveraged to help farmers improve profitability and increase operational efficiencies, as per the company. Denvik Technology will be able to help companies take advantage of the granular insights that will be available from connected smart devices.
More details on Denvik Technology
Denvik Technology was founded in 2007 and the company builds technology solutions for global corporations and startups for over 15 years. The company’s clientele includes global leaders in industrial and equipment automation in Europe and India. The team is especially passionate about leveraging technology to improve sustainability and help leave a better planet for the upcoming generations.
The company is incubated by the Crescent Innovation Incubation Council (CIIC) which is the incubation arm of the Crescent Institute of Science and Technology. Two of Denvik’s co-founders are also alumni of the Crescent Institute of Science and Technology.
Denvik’s latest proprietary product offering, “Ornithon”, is an IoT-driven device that offers solutions to help poultry farmers to improve profitability, operational efficiency and compliance. This technology claims to beat other market solutions and provide modern-day poultry farmers with a competitive advantage.
For all the latest Technology News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! TechNewsBoy.com is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
