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Sumitomo invests in IoT AI developer ClearBlade
- November 29, 2022
- William Payne
Sumitomo Corporation of the Americas (SCOA) has entered the US IoT, edge computing and edge-based AI markets with an investment in Austin-based IoT and edge AI developer ClearBlade. The investment from SCOA will support ClearBlade in expanding its operations internationally while providing SCOA and its affiliated companies with access to ClearBlade’s software. SCOA is part of the Sumitomo Group, one of Japan’s largest and oldest companies.
ClearBlade’s IoT, Edge, and AI software is used in some of the largest companies in North America, spanning several industries including energy, industrial products, and manufacturing.
The new growth capital provided by SCOA and other investors will be used to help grow ClearBlade’s software install base and to support those customers via SCSK USA Inc., a Sumitomo Corporation’s IT service company. ClearBlade’s recent launch on the Google Cloud Platform has brought them substantial new SaaS business from around the world, specifically in the Asia Pacific region.
Its investment in ClearBlade is SCOA’s first investment in commercial IoT and edge computing in the Americas. With its integrated global network, ties to emerging technologies, and long-standing relationships throughout several markets, SCOA is well-positioned to help ClearBlade achieve its growth goals.
The investment aligns with SCOA’s company digital transformation initiatives and is a strategic move by SCOA to support those efforts.
“We are thrilled to announce our participation in ClearBlade’s growth to provide efficient, scalable, IoT solutions across multiple industries,” said Taketo Kokubo, Senior Vice President and General Manager, Media & Digital Business Group, Sumitomo Corporation of Americas. “SCOA and ClearBlade have been working together over the past few years and we are excited to build on the trust and success we have developed together. Globally, Sumitomo Corporation is engaged in many digital transformation projects and we look forward to drawing on our experience and collaborating with ClearBlade. ClearBlade has many innovative and strategic benefits over other IoT companies, and the ecosystem ClearBlade is creating will help bring their unique technology into several new markets.”
“Since 2007, ClearBlade has been delivering the most flexible, secure, and scalable software available for IoT. Our award-winning, patented approach is built differently than all others and it is proven at scale across multiple industries,” said Eric Simone, Founder, and CEO of ClearBlade. “We are extremely excited to be partnering with SCOA, bringing our innovative technology to Sumitomo business and joint customers around the world.”