IoTex
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IoTex - overview
Established
2017
Location
Tortola, -, British Virgin Islands
Primary Industry
Internet
About
Founded in 2017 and based in California, US, MachineFi Inc. , trading under the name IoTex, operates a blockchain platform that allows its users to create a centralized Internet of Things ecosystem with a network of smart devices. The company was founded by Jing Sun, Qevan Guo, and Raullen Chai. As of 2021, the company has around 6,090 devices on its platform and is available in over 60 countries.
IoTex has developed an open-source Internet of Things platform designed to share data of the user’s devices with trusted applications. The company’s platform uses blockchain, decentralized identity, and third-party hardware to establish its network across smart devices and allows its users to maintain complete control over their digital assets. IoTex also creates decentralized products and applications in partnerships with other enterprises by lending its platform and software for their products. The company’s line of hardware products ranges from a home security camera made in partnership with Tenvis (Ucam) to an asset tracking device made in partnership with Nordic Semiconductor (Pebble).
In August 2025, IoTex raised an undisclosed amount of venture funding from new investor Animoca Brands. The company’s software products include ioPay, IoTeX official e-wallet; BINANCE, a trading application; and much more. The company plans to launch its decentralized autonomous machines in 2021.
Current Investors
Foresight Ventures, Summer Capital, Amber Group
Primary Industry
Internet
Sub Industries
e-Financial, Internet, Application Integration Software, Accounting/Finance Software
Website
www.iotex.io
Verticals
Blockchain, FinTech, FinTech, FinTech, IoT (Internet of Things)
Company Stage
Early Stage
Total Amount Raised
Subscriber access only
IoTex - employee data
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