May 3, 2022 dataharvest

BCP Blitz Leads Seed Round in Pratexo

I am pleased to share BCP Blitz’ $4M Seed Round investment in Pratexo.

Pratexo, which means “edge” in Latin, is a transformational edge network and IoT platform-as-a-service (IaaS) platform that powers smart cities, energy grids, agriculture, manufacturing, healthcare, buildings, transport and more. This Norwegian-American company, based in Austin, lets customers capture, analyze and act on the vast amounts of data captured across the “far edge”. In other words, we can finally do something with the data that’s captured in the sensors that are now widespread across our world.

Pratexo is leading the transition from central cloud internet infrastructure to a hyper-connected era where nearly all systems can capture, analyze and instantly act on data. This powers many use cases across a smart society, from mitigating resource consumption within smart cities to optimizing energy usage across smart grids – and much more. Over time, we will see a vast application ecosystem emerge across the edge.

For customers, Pratexo delivers clear financial benefits as they use the data at their edge to drive incremental revenue opportunities and reduce costs. For society, the distributed, IoT edge data usage that Pratexo enables helps mitigate resource usage and our carbon footprint, and advances sustainability initiatives. Pratexo already has strong customer and system integrator traction across some of the world’s biggest names, with an impressive growth trajectory.

It is predicted that more than $800 billion will be spent on edge network infrastructure by 2028. With an incredible founding team with decades of experience (and exits) across Google, PayPal, Gartner, Symantec and Tivoli (among others), and a superior IaaS technology platform, Pratexo is well-positioned to lead the market and capture a large portion of this spend.

BCP Blitz invests across food tech, ag tech, climate tech and wellness to advance a Smart Society that is sustainable and healthy. Our investment in Pratexo touches each of these areas, enabling new sustainability and ROI-generating initiatives across smart cities, energy grids, agriculture, manufacturing and more.  Pratexo is the platform (PaaS) that will underpin the future Smart Society – and we are incredibly excited to lead the company’s Seed Round and partner to build a transformational company in this massive growth market.