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Temasek values internet of things platform Jasper at $1bn with new investment

17 Apr 2014

cloudSingapore sovereign wealth investor Temasek has backed cloud-based internet of things platform Jasper with $50m, valuing the company at about $1bn.

The company, which has been going since 2004, aims to help entrepreneurs launch, manage and monetise internet of things businesses.

Jasper founder and CEO Jahangir Mohammed said, “After nearly a decade partnering with enterprises and operators, we know one thing with absolute certainty – the internet of things is not about things, it is about service.

“We are seeing explosive growth in the number of internet-connected devices, with many more billions anticipated by the end of the decade.

“And for over a thousand companies around the globe, these services are already made possible by our IoT platform. We make it easy to successfully deploy IoT service businesses.”

Earlier this month Temasek launched Astrea II, a co-investment private equity vehicle.

Astrea II is currently invested in 36 private equity vehicles, said Temasek, which is the fund’s largest investor with a 36 per cent stake.

Temasek launched its first private equity co-investment fund, Astrea I, in 2006.

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