Portland-based computer company IOTAS has secured $8.5 million in Series A funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced on Oct. 1 and led by TELUS Ventures.
According to its Crunchbase profile, "IOTAS is a Portland-based developer of a premier smart home technology platform that delivers a fully-connected, smart home experience for residents and property managers that integrates IoT technology directly into multifamily units. IOTAS enables property developers to quickly install numerous smart devices by streamlining the set-up and deployment process. With this premium offering, building owners and operators attract new tenants at premium rents, while lowering utility and management costs."
The six-year-old company has raised five previous funding rounds, including a corporate round in 2017.
Over the past year, three Portland-based consumer electronics companies have secured venture funding, totaling $21 million in new investment to the local industry.
In other local funding news, social media company Built Oregon announced a $50,000 grant on Sept. 3, financed by Oregon Community Foundation.
According to Crunchbase, "Built Oregon is a digital magazine that will highlight the statewide network of entrepreneurs and innovators through compelling narrative, engaging content, and focus on storytelling both written and interactive. These stories will inspire entrepreneurs and create connections between businesses and support organizations. Built Oregon stories will be read and shared beyond the state lines."
The company also raised a seed round in 2014.