Denvik Technology Raises Strategic Investment Round For Global Expansion The investment will be used by Denvik to expand their customer base for Industrial IoT solutions further in Europe and the MENA region, scale the team and accelerate market adoption of their latest IoT-driven smart solution for the global poultry farming market
By Teena Jose •
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Denvik Technology, a Chennai-based provider of cutting-edge IoT solutions, has raised a strategic investment round led by CI Hub, an investment firm that invests growth capital in high potential Indian companies to help them accelerate their global expansion. The investment will be used by Denvik to expand their customer base for Industrial IoT solutions further in Europe and the MENA region (Middle East, North Africa), scale the team and accelerate market adoption of their latest IoT-driven smart solution for the global poultry farming market.
"We have been successfully delivering cutting-edge technology solutions for global clients for the last 15 years. With this strategic investment, we will be expanding further in key markets like the Middle East and Europe and establish near-shore offices to better service our clients there. We will also use the investment to accelerate sales and scale adoption of our latest product offering "Ornithon" which tackles the unmet needs of poultry farmers' world-wide," said Mohammed Mohideen, co-founder, Denvik Technology Private Limited.
With over a decade of expertise in building cutting-edge technology solutions, Denvik Technology is well positioned to help companies leverage the granular insights that will be available from connected smart devices. Denvik's latest proprietary product offering "Ornithon" is an IoT driven smart solution for helping poultry farmers world-wide improve profitability, operational efficiency and compliance. Their unique technology offering leapfrogs existing market solutions and provides modern day poultry farmers a significant competitive advantage, according to an official statement by the company.
"We are excited to invest in a deep-tech company like Denvik Technology with a proven track record of success. The team at Denvik have a wealth of experience in building and deploying cutting-edge, robust, easy to use IoT solutions. The global IoT market is a huge opportunity as enterprises of all sizes look to benefit from IoT technology. We believe that Denvik is uniquely positioned to grow and take advantage of this large addressable market," said Syed Bukhari, founder and vice-chairman, Gibraltar Technologies; founder director, CIIC; founder and director, CI Hub.
Founded in 2007, Denvik Technology has been building robust, market leading technology solutions for global corporations and startups for over 15 years.
