Momentum IoT has raised $3.1 million in funding from strategic investors. The company is a leader in cloud-managed telematics for mixed fleets and helps small mid-sized fleet managers locate and manage their trucks, trailers, heavy and light equipment with 4th-generation GPS and telematics tracking solutions.
The funding enables Momentum IoT to accelerate its launch of 4th Generation Cloud Managed IoT solutions. Momentum IoT devices deploy without field-application engineering. The devices are just plug-and-play and require no custom development. There are also no version control issues and no deployment delays.
Momentum IoT breaks the mold with lower device complexity, extended coverage, higher security, and low power consumption, and combines that with a direct-to-market sales approach. This means lower cost and higher value for small and mid-sized fleet managers.
The recent funding was led by Howard Edmund Capital, a private investment fund. Additional investors include Thompson Aerospace, an aircraft tracking and data solutions provider whose systems manage position tracking, virtual flight data recorder, real-time credit card processing, and passenger data.
Coupled with the funding, the Company announced the availability of its cloud-managed telematic tracking solutions for mixed and integrated fleets. The Company offers tracking solutions for mixed fleets including trucks, trailers, heavy or light equipment, with plug-and-play operability in vehicles ranging from Ford and GM trucks to heavy equipment and ATVs, and including power generators and pumps.