D4 investments Aims to Cloudify Industrial Mobile Machines with Stake in Global IoT Innovator, Elevāt

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Dec 01, 2020, 09:40 ET

SEATTLE, Dec. 1, 2020 /PRNewswire/ -- D4 investments (D4) is targeting the 50% of the world's industrial mobile machines that are not connected to the cloud, with the successful $2 million fundraise it led in Elevāt's cloud-based platform.

"About half the world's mobile machinery, are stranded assets, with owners and operators having little or no visibility as to how the equipment is being used in the field," says D4's James Kinsella. "Elevāt changes that, with its IoT solutions for machinery of any kind."

James Kinsella, Robert McNeal, D4 investments

D4's founders, serial entrepreneurs James Kinsella and Robert McNeal, have helped shape the cloud and networked-services industry through the multi-billion-dollar companies they built. Their most recent exit in the cloud-services market was the $2.3 billion sale of EU-based Interoute Communications. Kinsella is also a former Microsoft executive and former co-president of MSNBC.

With Elevāt, D4 investments identified a largely overlooked opportunity in the mobile-machines market, where network and cloud services have yet to proliferate. "We recognize the extraordinary opportunity to bring the power of the cloud to this critical part of industry worldwide," explains Robert McNeal. D4 investments will join the Elevāt board.

"Elevāt helps equipment manufacturers, owners and users increase control, decrease costs and extend the useful life of their machines," said William Hill, Chief Executive Officer, Elevāt. "This seed round will help us boost sales and marketing to further drive our growth in North America, the European Union, the Middle East and beyond," says Hill.

D4 was joined by Emles Venture Partners and Gaingels, the largest investor network focused on supporting and investing in the best venture-backed companies that embrace diverse leadership, including LGBTQ+. "Gaingels is proud of participating in Elevāt's financing and is resolved on helping the company grow and scale while strengthening its prospects of success by building a culture that reflects the diversity of its executive teams, staff and customers," says Lorenzo Thione, Managing Director, Gaingels.

ABOUT D4 INVESTMENTS

D4 investments invests in start-ups and early stage ventures where its founders' experience in building multi-billion-dollar cloud-based data companies in the US and the EU can help drive a company's success.

ABOUT ELEVĀT

Elevāt's sensor-driven, cloud-connected, AI-enabled SaaS platform is helping equipment manufacturers, owners and users maximize the value of their machines while simultaneously enabling new revenue streams. Visit https://www.elevat-iot.com/.

James Kinsella and Robert McNeal, D4 investments

SOURCE Elevat, Inc