West Chester-based Fischer Block, a startup that makes Internet of Things industrial hardware and software to manage power grids, continues to impress, as it has raised $3.4 million in Series A financing, writes Michelle Caffrey for the Philadelphia Business Journal.

Over the last 12 months, the company has entered an additional market segment, welcomed back its founder as CEO, and secured financing in a Series A round led by ACT Capital Management and Pacera Larson Ventures.

The company has gained a lot of traction as it aims to bring IoT efficiencies to the power management industry.

When it began four years ago, Fischer Block focused on deploying its technology to utilities, so they could detect issues remotely and predict power failures. Now, the company has expanded its reach to handle the power management systems at large manufacturing facilities and wind turbines.

“We detect early signs of asset failure so our customers can avoid unplanned shutdowns,” said Fischer Block CEO Greg Wolfe.

This latest funding will help fuel the company’s software expansion, which will incorporate a predictive analytics network. According to Wolfe, this is what sets Fisher Block apart from its competitors.

Read more about Fischer Block in the Philadelphia Business Journal here.

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