Zededa, a provider of edge computing solutions, has closed a $26 million Series B funding round led by Core Energy 7 and also including Juniper Networks, Samsung Next, Porsche Digital, and Chevron. This latest round of funding brings Zededa’s total funding to $55 million.
The funds support the continued development of the San Jose-based Zededa’s edge computing platform and ecosystem. The money will go towards increasing its customer base, expanding research and development and promoting its sales and marketing operations.
“We are thrilled to have the support of our new and existing investors as we continue to grow the edge computing market,” said Said Ouissal, CEO and co-founder of Zededa. “This latest round of funding will enable us to speed up the development of our platform and ecosystem, bringing the benefits of edge computing to even more enterprises.”
Founded in 2016, Zededa is a distributed edge orchestration and virtualization software provider. It offers an enterprise edge cloud-based service that delivers visibility, control, and protection for distributed edge gateways, applications, and networks.
Zededa has already established integrations and strategic partnerships with PTC, Google, Microsoft, and SUSE before the news. Leading enterprises, such as Porsche and Chevron also use the Zededa platform.
“Zededa’s edge computing platform is a key part of our digital transformation strategy, and we are excited to continue working with Zededa to enable the future of connected cars,” said Mattias Ulbrich, CEO of Porsche Digital and CIO of Porsche. Porsche’s involvement in the round of funding was disclosed in June as the pair have been working together since 2021 to develop edge computing solutions for automobile manufacturers where edge sensor data bring value propositions to the “vehicle-to-everything” ecosystem.
Edge computing is increasingly popular among organizations as it promises lower latency and improved performance for data-intensive applications. According to a recent Worldwide Edge Spending Guide from IDC, the worldwide market for edge computing is expected to be $176 billion in 2022 and is expected to reach $274 billion in 2025.
Chevron | edge orchestration | funding | Juniper Networks | open source | Samsung | Zededa