Munich Re/HSB Ventures Leads Investment in IoT Startup

IoT data and analytics company Mnubo announced it has raised $16.5M in a Series B round, bringing its total funding to date to $22.5M (Canadian dollars). The round was led by Munich Re/HSB Ventures, a strategic partner to Mnubo as the two are collaborating to bring to market “financial products that provide risk management and ROI-enablement” for Mnubo’s customers.


Mnubo was established in 2012 in Montreal and is led by cofounder and CEO Frederic Bastien. It helps businesses across consumer, commercial and industrial IoT verticals monetize their IoT data through out-of-the-box insights, IoT data services, and advanced data science.



“Through our partnership with Mnubo, we are pioneering a data-driven strategy in the HVAC market to improve customer experience, empower our channel partners, and build out new after-market services. Johnson Controls – Hitachi is committed to driving greater customer value through new IoT and AI-enabled innovations. As a data-first company, we are using IoT insights to deliver benefits to all stakeholders in the HVAC value-chain” – Dr. Hank Marcy, VP of Global Product Development at Johnson Controls – Hitachi Air Conditioning, a strategic customer of Mnubo.