Machfu, an Industrial Internet of Things (IIoT) company leading the way in the development of an edge intelligence platform for IIoT, announced that it has raised $1.6 million in the first round of institutional financing. This investment, led by Blu Venture Investors, will allow the company to accelerate its successes in the Smart Grid and Smart Water markets, and expand its footprint in the oil and gas industry. The company has also recently received financing from Maryland’s TEDCO and other angel investors.