Iven
A product cloud solution to power new capabilities in order to increase productivity, decrease costs and time-to-market.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| N/A | $10.0m Valuation: $10.0m | Acquisition | |
| Total Funding | 000k | ||
Based in Istanbul, Turkey, Iven positions itself as an Internet of Things (IoT) enabler, providing a cloud-based platform for device manufacturers to navigate their digital transformation. The company was founded in 2014 by Mehmet Sedat Güngör. Iven's core offering is its IoT platform, designed to assist companies in connecting, controlling, and engaging with their IoT devices.
The platform's business model is centered on helping clients explore new revenue opportunities, reduce operational and after-sales costs, and utilize device-generated data for research and development activities. It serves a range of clients, from white goods manufacturers wanting to remotely monitor products to business developers seeking to extract analytics for efficiency gains. Success stories listed by the company include collaborations with Arzum, Teknoklima, and Vestel, where Iven's platform enabled services like product-as-a-service business models and effective after-sales management.
Iven's platform provides an end-to-end solution with features including device registration, secure connectivity through a cloud gateway, and user access management. It allows for device data monitoring with both real-time status observation and historical data reports. A key feature is the business rules engine, which enables clients to set conditions on real-time data to trigger specific actions, effectively creating a behavioral system for their connected devices. The platform also supports both device-to-cloud and cloud-to-device communication, including remote control and firmware updates, which can be done in bulk. To facilitate integration, Iven provides SDKs and a RESTful API. In March 2016, the company secured $1 million in a seed funding round from investors including TRPE, Alacrity Turkey, and ZMT Ventures.
Keywords: IoT platform, device management, cloud-based IoT, IoT enablement, connected devices, digital transformation, M2M communication, IoT solutions, smart devices, IoT analytics, remote monitoring, firmware over-the-air, IoT data, product-as-a-service, asset management, real-time data, business rules engine, IoT Turkey, Arzum, Vestel