The automotive, defense, utilities, food and beverage, and industry 4.0 sectors are all served by Maxbyte, which provides solutions for these industries.
The global technology conglomerate e&, formerly known as Etisalat Group, has led a $5 million series A financing for Maxbyte, an Abu Dhabi-based technology company, through its investment arm, e& capital, based in the United Arab Emirates.
The money will help Maxbyte’s growth strategy, product development, and solution development. By expanding its sales force, improving its go-to-market strategy and alliances, and scaling projects across new countries and industries, it hopes to hasten its growth, according to a statement released on Tuesday by e& Capital.
With a history of success stories across the UAE, [the] US, SEA [South-east Asia], and India, Maxbyte’s creative approach to automation technology positions it as an excellent partner for the Industry 4.0 transformation, according to Eddy Farhat, executive director of e& capital.
“This investment will advance its mission to automate and digitally transform businesses.”
The automotive, defense, utilities, food and beverage, and industry 4.0 sectors are all served by Maxbyte, which provides solutions for these industries. The company declared its intention to make smart linked industrial enterprise solutions available for sustainability, predictability, flexibility, and productivity.
This important alliance accelerates our efforts to lead technological change, strengthen smart manufacturing, and advance regional and international industries. Ramshankar CS, Maxbyte’s co-founder and CEO, said.
The $60 million series B fundraising for Airalo, an eSIM marketplace looking to increase its global presence, was led by e& capital this month.
As part of e& capital, e& announced a $250 million venture capital fund in October to aid the ecosystem for tech start-ups. In addition to giving start-ups access to investor and expert networks, the e& capital VC fund seeks to draw them in and help them.
e& changed its name in February of last year in an effort to become a multinational technology investment company. Through its five business pillars—Etisalat by e&, e& international, e& life, e& enterprise, and e& capital—the company offers digital solutions.
In the UAE, Maxbyte products are distributed and integrated solely by E& Enterprise.