mPrest, a start-up based in Israel, raised $20 million in Series A funding for its monitoring and control software for the Internet of Things (IoT).
mPrest is an established player in the monitoring and control software industry serving essential sectors, including defense and security bodies, electric and water utilities, smart cities and buildings, fleet management companies and other large organizations around the world. For the past six years, mPrest has been a strategic partner with Rafael Advanced Defense Systems to supply the command and control system for the renowned Iron Dome air-defense system, as well as many other large projects.
The round was led by GE Ventures, the venture arm of GE, and OurCrowd, one of the world’s leading equity crowdfunding platforms.
“The enormous promise of the IoT relies on smoothly integrating disparate systems, sensors and disciplines while managing the exponential growth of connected devices,” said Natan Barak, CEO and founder of mPrest. “We built mPrest’s product-based platform to empower industrial and commercial organizations to autonomously adapt to these changes to strengthen performance and drive operational efficiency and cost reductions. Together with our new and existing partners we are committed to growing into a world leader in technology for the increasingly connected industrial world.”
