Oslo-based OTee bags €1.25 million to be a driving force in the disruption of industrial automation
Oslo-based deep tech startup OTee has successfully closed an investment round of €1.25 million marking the largest first funding round out of Antler Norway. The investment was led by Norwegian venture capital fund RunwayFBU and Estonian fund Superangel.
Founded in 2022, OTee provides an industrial-grade engineering platform for designing, deploying, and managing virtual control systems based on open architecture and standards. At its core, the OTee platform is a potential game-changer enabling cheaper, faster, more sustainable, and secure industrial control systems for millions of automation engineers worldwide. OTee’s CEO and Co-founder, Henrik Pedersen, with 11 years of experience at ABB, firmly believes that a disruption of the Industrial automation (OT) domain is at our doorstep.
OTee’s applications range across almost all industries, showcasing the company’s limitless market potential. Focused on virtual Programmable Logic Controllers (vPLCs), OTee distinguishes itself by offering a SaaS platform built on a cybersecurity zero-trust architecture, that decouples the software and the hardware. This is making it possible to modernize an old control system with no physical intervention and remove the vendor lock-in.