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iDevices Clears $10 Million Additional Funding

Tuesday, February 17, 2015 5:46:00 AM PDT | VentureDeal
   Avon, Connecticut  --  Wireless  technology company iDevices has raised an additional $10 million in financing, according to an amended SEC regulatory filing and company announcement.

iDevices said that Allegion plc led the round, which was the company's Series C.

As a result of Allegion's investment through the Schlage Lock Company, the two companies have formed a "strategic alliance to expand its innovative footprint in the growing IoT market."

Allegion said it would utilize iDevices technology platforms to accelerate new product development in the area of home automation.

Funding will be used to support product development as well as to "strengthen iDevices' position for progressing partnerships with top home product companies for advanced IoT development."

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