At the same time internet of things (IoT) devices and embedded software are becoming more complex, manufacturers are looking for ways to effectively manage the increasing volume of edge hardware. According to Statista, the number of consumer edge-enabled IoT devices is forecast to grow to almost 6.5 billion by 2030, up from 4 billion in 2020.
Capitalizing on the trends, Memfault, a platform that allows IoT device manufacturers to find issues in their edge products over the cloud, has closed a $24 million Series B funding round led by Stripes with participation from the 5G Open Innovation Lab, Partech and Uncork. The investment brings Memfault’s total raised to more than $35 million following a $8.5 million cash infusion in April 2021.<...
