What is Iotex?
Founded in 2017 as an open-source platform, IoTeX is dedicated to building the Internet of Trusted Things. The company aims to create an environment where all physical and virtual entities, including humans, machines, and decentralized applications (DApps), can securely exchange information and value at a global scale. IoTeX leverages a combination of blockchain technology, secure hardware, and decentralized identity innovations, driven by a global team of over 30 research scientists and engineers. Its mission is to serve as a decentralized trust fabric for the Internet of Things (IoT), thereby empowering intelligent IoT networks and machine economies and connecting the physical and digital worlds.
How much funding has Iotex raised?
Iotex has raised a total of $10M across 1 funding round:
Angel/Seed
$10M
Angel/Seed (2022): $10M with participation from Jump Capital, Draper Dragon, and Samsung NEXT
Key Investors in Iotex
Jump Capital
Jump Capital is a venture capital firm specializing in early-stage technology companies, particularly in fintech, application software, and infrastructure software. They are known for their deep financial expertise and operational support for portfolio companies.
Draper Dragon
Draper Dragon is a cross-border venture fund with a focus on early-stage blockchain and Web3 companies, connecting Silicon Valley and Asia. They are part of the Draper Venture Network, leveraging extensive experience in venture capital.
Samsung NEXT
Samsung NEXT invests in and develops software and services that complement Samsung's hardware ecosystem, operating across product development, investment, M&A, and partnerships.
What's next for Iotex?
With a recent major strategic investment, IoTeX is poised for accelerated growth and expansion. The company's focus on building a decentralized trust fabric for IoT positions it to capitalize on the burgeoning machine economy and the increasing need for secure, trusted interactions between physical and digital assets. This strategic backing will likely fuel further development of its core technologies, enhance its market penetration, and support the scaling of its network infrastructure to accommodate a growing number of connected devices and decentralized applications.
See full Iotex company page
