HighByte, a Portland, Maine-based industrial software company, raised $875k in pre-seed funding.
Backers included Maine Venture Fund and Switzerland-headquartered Momenta Ventures.
Funding was received as $625K in convertible debt matched by a $250K long-term, low-interest loan from Maine Technology Institute (MTI). Angel investors include Corson Ellis, previous Founder and Chairman of Kepware and Brett Austin, previous President of Kepware.
The company intends to use the funds for business development activities and additional R&D headcount in 2020.
Co-founded by (left to right) John Harrington, Tony Paine, Torey Penrod-Cambra, HighByte is building a DataOps solution purpose-built for industrial environments that address the data architecture and security challenges created by Industry 4.0., its assets, products, and processes at the Edge. To date, the company was funded through founder contributions and $100K in grants awarded by the aforementioned MTI.