The software-as-a-service firm intends to use the money to develop its technology and grow its customer base. (The Logic)

Talking point: The eight-year-old firm tracks the location of key assets for industries with a large number of valuable products, like the oil and gas sector. “We’re helping some of the world’s most demanding organizations unleash the real potential of IoT and AI by interweaving their disparate IoT systems into a system of systems,” said CTO Steve Liang. “There’s an enormous amount of geospatial and AI talent in our own backyard to develop a world-class centre for movement intelligence.”