IOTA receives investment from Bosch Group VC

IOTA receives investment from Bosch Group VC

Robert Bosch Venture Capital GmbH (RBVC), the venture company of the Bosch Group has made a significant investment in IOTA. This is the first investment in the technology of distributed registries for RBVC. The details and the transaction amount is not disclosed.

IOTA, a cryptocurrency for the Internet of things (Internet of Things (IoT), recently experienced explosive growth. Market capitalization IOTA (MIOTA) has increased by 400%, reaching the 4th level among all cryptocurrencies. Experts attribute this rise of cryptocurrency with the company’s statement on the launch of a new platform for monetization of data Data Marketplace at the end of November. Then the IOTA initiative to create a blockchain-data marketplace for Internet of things supported by over 20 international organizations, including Microsoft, Fujitsu, Bosch, Deutsche Bank, Telekom and other companies.

In addition to the investment partner at RBVC, and Dr. Junchuan Jian joined the Advisory Board of the Fund IOTA. Of particular interest to the group RBVC provides its own technology of distributed registry Tangle startup IOTA. Tangle is a generalized version of the blockchain Protocol, which allows the machines in the IoT to exchange information and to carry out the transaction.

Referring to recent investment, Dr. Jiang said:

“Our collaboration with team IOTA lasts for more than a year. I am very happy with innovative technology Tangle IOTA, which potentially can become the base standard and reliable technology for machine communication, security and payment in the space of IoT”.

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