IoT platform Singularity raises pre-Series A funding

Singularity Automation Pvt. Ltd, which provides an Internet of Things-based platform to budget hotels and companies that offer shared accommodation, has raised its first round of institutional funding.

The Bengaluru-based startup has received USD 1.15 million from IvyCap Ventures as part of its pre-Series A round of funding, Singularity Automation said in a statement.

The funding will help Singularity Automation expand into new segments and accelerate its product development to enter geographies outside India in Asia where the market size is expected to be over USD 2 billion, it added.

Source: VCCircle