Axonize, an Israeli cloud-based IoT platform, has been acquired by Planon, an American real estate and facility management company. The companies have yet to reveal any numbers, but speculations put the price at around $40 million -- a valuation increase according to the company’s last funding round. According to the announcement, Axonize will become Planon’s Israeli R&D center.

IoT connectivity to run smart homes & cities

The Axonize IoT platform enables seamless, no-code connectivity to any sensor or data resource; reducing the costs of equipping cities, infrastructures, and buildings with smart capabilities. Additionally, the Israeli startup sports an open infrastructure product that can be modified and configured according to a client’s needs. The acquiring company will utilize the Israeli technology as part of its software solution, providing asset monitoring, analyzing end-user needs, establishing occupational patterns, and enhancing the ecological footprint of assets and buildings.

“The combined services from Planon and Axonize will effectively enable 'in-building connectivity,' with the option to connect to all installed devices and various data sources. This approach will simplify the IoT infrastructure, while significantly reducing cost-of-ownership,” according to the joint announcement.

Axonize was founded in August 2015 by Janiv Ratson, who was joined by CTO Omri Cohen, Shachar Levi, and Amir Unger. The three previously worked at French energy giant Schneider Electric. Since established a little over half a decade ago, the company has raised $7.5 million from investors such as Deutsche Telekom, Meron Capital, StageOne Ventures, and Cornerstone Venture Partners. The Axonize team will join the new Planon R&D center, and continue developing its product independently.

Janiv Ratson, CEO of Axonize states: “We look forward to this next step in our journey, and we strongly believe that Planon will provide a great home for our employees, customers and technology. With Planon's acquisition of Axonize, we expect the growth towards digital transformation in smart enterprises to be exponential. It will provide consumers with safer, less costly, more productive, and significantly optimized businesses. By collaborating and combining our infrastructure and resources, we will precipitate our joint expertise to make any building, entity, or infrastructure smart and more efficient with unmatched speed, simplicity, and scalability. I'm confident that together, we can successfully grow the entire notion of smart buildings, as well as smart businesses across the globe."