Tosibox secures €5 million from Nexit Ventures and 3TS Capital Partners.

Tosibox, an Oulu, Finland-based provider of easy and secure remote connectivity solutions (IoT), announced completing a €5 million ($5.8M) funding round.

The money was raised from investors including Nexit Ventures and 3TS Capital Partners. The deal includes upfront cash payment of 2.75 million immediately and also contains an option for add-on funding of 2.2 million euros.

Proceeds will be used for international growth in the US and other key markets and roll out new software products and business models

Tosibox, founded in 2011 by Veikko Ylimartimo and led by CEO Kaija Sellman, offers an easy and secure remote connectivity solution widely utilized in building and industrial automation, as well as in the security sector. The solution, enables secure IoT connectivity, remote maintenance and network management. The company says that it handles more than 100,000 networks and more than 100 million sensors, machines, assets, devices and users connected with the Tosibox OT networking platform. Tosibox Oy currently has users in more than 150 countries, offices in Finland, Sweden, Germany, and the US, and a partner network covering more than 60 countries
globally.

Tosibox previously raised funding from the Italian from SBS S.r.l in 2019.