Hologram, an IoT startup based in Chicago, has secured $65 Million in Series B financing to continue connecting all sorts of devices via cellular networks.
The funding round was led by Tiger Global and counted with the participation of Bullpen Capital, NextView Ventures, and Mucker Capital. With the close of this Series B round, Hologram has now raised a total of $80.6 million to fulfill its vision of the Internet 3.0
The internet has grown exponentially since being invented, surpassing the expectations of its creators and all those who contributed to it. Now, with more than 10 billion devices connected to the internet in one way or another, the IoT has become an integral part of the life of billions of people and organizations around the globe.
According to the startup’s statement, the funding will be used to grow its platform, invest in hiring new employees, and solidify its company culture. Ben Forgan, CEO and co-founder of Hologram, referred to this use by stating:
“It’s my belief that iconic companies require iconic cultures. We’re excited to use this new capital to grow our team while staying true to our core values of transparency, mindfulness, and ownership. We’re committed to building Hologram into a place where employees can do the best work of their careers.”
At this time, Hologram has a team composed of about 70 employees, which it is planning to grow to over 225 in the near future while paying special attention to diversity and inclusion, which has been an important aspect of the startup’s culture.
As the development of concepts like Internet 3.0 and Web3 continue to evolve, the demand for solutions that allow the connection of devices located anywhere in the world and their monitoring will become increasingly relevant, which is why the IoT startup expects to play an integral role in creating this new ecosystem.