SAN FRANCISCO, Dec. 16, 2020 /PRNewswire/
Nubix today announced it has closed $2.7 million in seed financing led by Tuscan Management with strategic investment from
Chevron Technology Ventures, in addition to participation from other new investors. The new round brings the total funding for the company to $4.5 million.
Joshua Silber, managing partner at Tuscan Management, will join the company s board. The funding will be used to expand engineering and enable Nubix to further capitalize on its position as a leader in edge-native application platforms.
According to Arm, there are
160 billion devices at the edge with 6.4 billion shipped in the last quarter of 2019 alone. Two-thirds of these devices are microcontrollers (MCUs) that are rigid to innovation and inherently risky to update. Nubix solves this problem with a real-time operating system (RTOS) container and services solution for MCUs, making the development and deployment of Internet of Things (IoT) and edge applic