The Hamburg-based Cybus GmbH, a provider of industrial Internet of Things solutions, has secured more than EUR 2 million in the latest round of financing. Btov Partners is acting as lead investor in addition to existing shareholders of Cybus.
Cybus managing machine data
Founded in 2015, the start-up has developed a software-based IoT (Internet of Things) gateway solution for managing the flow of data between production machines, IT systems and external cloud platforms. The question of “who owns the data’ hovers like Damocles sword over all digitization projects. However, the question of who is responsible for the infrastructure is just as important as it decides what role one can play in the data economy,” said Peter Sorowka, Cybus CTO. The company is targeting mainly Germany SMEs as customers.
Number of employees to be doubled
The latest cash injection will allow Cybus to expand its marketing, sales and customer management and to invest in structures and processes. The IT department is also set to grow with the number of employees to be doubled by late 2019. Founded in Hamburg in 2015 by Pierre Manière, Marius Schmeding and Peter Sorowka, Cybus is also considering “a branch in southern Germany,” said Manière, CEO.