Ryerson Futures Alumni Litmus Automation Raises 1.5MM USD Funding
The Internet of Things (IoT) space now has another key player, as Litmus Automation has attracted $1.5 million USD in funding from several private angel investors in both Canada and the US to expand their business.
Litmus Automation allows for rapid IoT deployment including connectivity, management, and integration for large enterprises, mid-size businesses, and startups through a cloud-based or on-premise middleware platform called Loop. Companies can integrate gathered data in real time into any third-party software application or enterprise system.
“Through early client adoption, we have learned the pain points of large clients in the connected car and industrial spaces, even at a time when we were still developing our platform,” said Vatsal Shah, CEO/Co-founder of Litmus Automation. “We now have a production-ready platform suited for businesses looking to take projects from proof-of-concepts to full production quickly, securely and with complete ease.”
Litmus started in late 2013 with three founders: CEO Vatsal Shah, COO John Younes, and CFO Sacha Sawaya.
“We were on a mission to solve the chaos of proprietary vendors and interoperability in industrial automation and the IoT space,” says Younes. “We found early adoption in the connected car space by auto OEMs (original equipment manufacturers), enabling us to tailor our platform for the car industry and providing us with a strong foothold in these two main verticals.”
Litmus graduated from the Alchemist Accelerator in the US last year, as well as from MaRS and Ryerson Futures this year, two top Canadian accelerators. Now, the company is partnering with top companies, from Intel to Salesforce, with top clients like Nissan. Despite it being a crowded space, their rapid proof-of-concept turnaround and simple migration to product deployment has set them apart.
“Litmus Automation’s Loop platform has been integral for us to deliver rapid IoT solutions to the market for both the connected car and manufacturing,” says Koji Kamimura, Global Manager of Connected Services Data at Nissan. “Litmus offers the industry’s best platform where we can build all our IoT use-cases quickly and effectively to deliver the best possible experience for our consumers.”
Now, Litmus is looking to the future, raising substantial funding to expand and grow.
“We raised now because we have production deployments ready with some large clients and we’ll be hiring to prepare for scaling next year,” says Sawaya. “We’re anticipating strong traction next year, so we’re looking to hire some great employees and increase our brand recognition.”
Younes adds that the team has high hopes for Litmus Automation. “We hope to see Litmus Automation in five years as the standard platform of choice for automotive manufacturers and industrial companies to leverage for their connected ecosystem.”
For more information, check out the Litmus Automation website, or follow them on Twitter.