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iYogi invests $35 mln to launch digital service cloud with Microsoft

May 28th, 2015
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The initiative, iYogi said​, ​is the evolution from their traditional business.

NEW DELHI: iYogi Thursday partnered with Microsoft to launch digital service cloud for connected devices that will help organizations to deploy and integrate their products.

The initiative, iYogi said, is the evolution from their traditional business. The company had raised $85 million through five rounds of funding over a period of seven years and has invested $35 million to create cloud-based platform.

"Digital service cloud is a SaaS-based open Internet of Things (IoT) platform based on Microsoft Azure and it allows any device or organization and supports customers innovation," Microsoft India strategy head Anil Reddy said.

The service is initially free for companies but becomes chargeable when devices threshold reaches a million, iYogi co-founder and marketing president Vishal Dhar said, adding that 12 million devices are under cloud management today.

US-based research firm IDC in its study said that IoT technology and service revenue is expected to reach $4.6 trillion by 2018 which is growing at 19% annually.

iYogi said that the new platform facilitates scalable cloud infrastructure, is interoperable and is based on the plug-and-play model.

The company is currently doing IoT pilot projects with ATM machines provider and car insurance firm.

via ETTelecom