Element, an Industrial Data Hub provider, has raised an $18 million in Series B financing co-led by new investors Activate Capital and Forte Ventures.
Element has raised $40 million since its inception.
In addition to Activate Capital and Forte Ventures, new investors participating in the round are Evonik Venture Capital, Kerogen Digital Solutions (KDS), and High Tide Foundation.
Existing investors participating in the round are Kleiner Perkins Green Growth Fund, Ajax Strategies, Blue Bear Capital, Schneider Electric Ventures, Honeywell Ventures and ABB Technology Ventures.
Element AssetHub, the first data hub for managing industrial metadata, connects and transforms hundreds of diverse sources of IT/OT data, including the OSIsoft PI System, making it easy to consume in modern analytical applications.