On January 30, 2018, Mnubo Inc. announced that it had raised $16.5 million in Series B financing as part of an oversubscribed round led by HSB Group, part of Munich Re. The investment round also included participation by Mnubo’s existing investors: White Star Capital, a transatlantic venture fund operating between London, New York, Montreal and Paris, which led Mnubo’s Series A in 2015, and McRock Capital, the leading Industrial IoT (IIoT) VC fund backed by companies like Cisco Systems and Caterpillar, as well as other value-added investors.
Mnubo is an Internet of Things company, providing data analytics, machine learning and artificial intelligence solutions to connected product manufacturers and service providers. The Series B financing will be used to accelerate the international growth of its SmartObjects™ IoT Analytics and Data Science solution that helps worldwide equipment manufacturers and service providers advance their data monetization strategy.
Miller Thomson advised Mnubo with respect to this financing with a team that included Bernard Blouin, Julien Morier and Stéphanie Normandin.