Davra Networks, an Internet of Things specialist, has announced it will be creating 20 new jobs by the end of 2016.
This comes after new funding from Delta Partners, Investec Ventures and AIB Seed Capital Fund (managed by Dublin BIC) which will help Davra set up operations across five continents. The company raised €1.5 million in a second round of fundraising.
It follows an initial round in 2013 worth €1.3 million, also supported by AIB Seed Capital Fund and Delta Partners. The latest investment will be used to bolster Davra’s R&D operations through the creation of 15 Irish-based jobs in key areas including front end development and tech support.
A further five jobs will be created overseas, as Davra Networks extends its global reach.
The Irish-owned company plans to set up operations in a number of strategic locations including Germany, Dubai, South America and Australia.
It already has a presence in Silicon Valley and London. The new openings will bring the company’s employee number to 26, up from just six a year ago.
Davra Networks was established in 2011 and has already made considerable waves internationally, partnering with US tech giant Cisco to offer Internet of Things solutions on a range of projects.
The company recently signed a $100,000 (€88,000) deal with City of San Diego to manage the city’s tram network. The software connects to, and interacts with, all San Diego Trolley electronic services—including the network’s GPS system and ETA feed—allowing for more fluid services and accurate time information.
CEO of Davra Networks, Paul Glynn said, "People are starting to realise how vital the Internet of Things is to our future and, as a result, the importance of our work.
"We’re helping customers connect like they’ve never connected before—and this is only the beginning. We are currently working with prospective customers in 43 countries right around the globe."