Oden Technologies Inc., which supplies process monitoring and data integration systems to manufacturers of wire and cable, packaging, building products and automotive, has received a $10 million investment from a London-based Atomico, founded in 2006 by Skype founder Niklas Zennström.
Oden is also a player in integrating Industry 4.0 technology for manufacturing.
New York-based Oden Technologies began in 2014, and the following year, launched its first product, for wire and cable extrusion. Oden officials say the cloud-based data analytics platform can be put in place in a factory quickly. The flexible devices plug into almost any kind of machine, old or new, and Oden's software integrates data from existing enterprise resource planning (ERP) systems and quality control software on the manufacturing line, according to the company. The data is streamed to Oden's cloud analytics platform for real-time production and monitoring.
Oden will use the money to expand its research and development and engineering teams in New York and add sales teams in the manufacturing hubs of Illinois, Ohio and Texas.
Oden also hired Deepak Turaga, adjunct associate professor at Columbia University, as vice president of data science, to support its advancements in machine learning and artificial intelligence.
Other Oden investors include EQT Ventures, Inbox Capital and LocalGlobe.
Zennström will join Odens' board.