Eleventh Holding, a Saudi Arabia-based holding company which promotes connected economy, announced a 30-million-dollar partnership over next 3 years with Orvito, a Boston-based manufacturer of safety, security and automation IoT products, to deliver residential, hospitality and enterprise solutions in the Kingdom of Saudi Arabia.
Orvito’s key differentiator is its scalable cloud-based Nucleo platform, and retrofittable products offering consumers and businesses as much or as little of smart solutions as they would like, drastically reducing the cost and time of installation and eliminating the need for wiring or teardowns.
The IoT Safety, Security and Automation market is expected to be $14.4 trillion in this decade, with markets outside US and Europe representing an increasingly higher share. Orvito Chairman and CEO Satish Vankayalapati said, “This is an exciting partnership that leverages the capabilities of both companies and establishes Orvito as a distinctive player in the Saudi Arabian IoT market. The Middle East, with its rich digital landscape, has the infrastructure required for accelerated adoption of IoT products.”
Source: Eleventh Holding