Temasek’s ST Telemedia jumps into the IoT bandwagon with Greenwave investment

It’s hop in or be left out.

With the pace of technological advancement, Temasek’s unit Singapore Technologies Telemedia’s investment in Greenwave, an Internet of Things (IoT) software leader seems to be a no brainer.

According to a statement by ST Telemedia, the company will be providing the majority of the funds in Greenwave’s latest US$45m Series C financing round.

“Proceeds from this round of financing will fund Greenwave's accelerated global expansion on the back of its strong growth momentum, as well as provide growth capital for strategic investment,” the statement said.

Meanwhile, its Greenwave investment also marks ST Telemedia’s continuing investments into next-generation technology platforms.

“The IoT industry is growing exponentially as the number of connected devices in the household and within enterprises multiplies, enabled by the ability to remotely manage, monitor and control these devices using cloud-based applications and wireless technology,” the statement said.