Connected Device Developer Raises $10M

Connected device provider Trident IoT has closed its latest fundraising round with $10 million for scaling development and rollout of its hardware solutions. 

The round was led by Todd Pedersen, founder of home security company Vivint and solar energy company Vivint Solar. Pedersen will join Trident’s board of directors as part of the move.

The company said it would use the latest funds to “future-proof” its product portfolio and develop its AI division, creating purpose-built AI tools to accelerate IoT product design.

“Traditional engineering paths cannot match the pace of either technological innovation or customer demands,” said Mike Lamb, Trident’s CEO. “Our vision is to reduce new IoT product design timelines from 18 to 24 months to 4 to 6 months,

“With the resources gained in this funding round…we will be able to extend design acceleration services to more customers and technologies.”

“Trident IoT has…a deep expertise in wireless and radio frequency technologies, that creates a unique capacity to fast-track IoT development,” said Pedersen. “This investment is a testament to the shared belief that Trident IoT can transform the landscape of connected device technology.”