Israel’s mPrest Raises $10M From NZ Energy Firm

By NoCamels Team October 31, 2017 Comments

mprest logoOctober 31, 2017 | Israel’s mPrest, a software company provides monitoring and control systems and famously had a hand in developing the Iron Dome missile defense system used by the Israeli military, has nabbed a $10 million investment from Vector Ltd, New Zealand’s leading multi-network infrastructure company, which will also act as mPrest’s reselling partner in the Oceania region. The Israeli firm provides “solutions for the defense, security, utility and Industrial Internet of Things (IoT) sectors including “Internet of Energy” software. Earlier this year, Vector became a client of the Petah Tikva-based mPrest, with the New Zealand company deploying mPrest’s Distributed Energy Resource Management product – mDERMS, to its intelligence grid, serving over a million private and corporate clients. CEO of mPrest Natan Barak said in a statement following the investment: “Our partnership with Vector is what we strive for – a happy customer who gains confidence in our software and comes back not only wanting to invest in it, but also to help replicate its success for other customers.” Vector Chairman Michael Stiassny told Reuters: “If we are going to develop something that is going to change the way we do things then why shouldn’t we share in the fruits?”

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