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Montreal’s Mnubo raises $6 million

Media | 05/14/2015 7:06 pm EDT

Mnubo Inc., a Montreal-based developer of an Internet of Things (IoT) application, said Thursday it has raised $6 million in venture funding. The company said in a press release it would use the financing to improve its product and conduct further development, which will involve hiring more people in its home base of Montreal and internationally. The funding came from White Star Capital, a venture fund operating between Montreal, New York and London, as well as McRock Capital, a venture capital company focused specifically on opportunities in industrial IoT. Mnubo makes an application called SmartObjects. Used by those in the manufacturing sector, its service allows users to "ingest, organize, clean and enrich" data that comes from sensors, Mnubo said. The company said the...