Cisco to launch $100M fund for the internet of things

Cisco reported financial results Wednesday and while the company saw a drop in both revenue and profits, the company is investing in the internet of things. Cisco said it has allocated $100 million to invest in early stage companies to help it move the connected world forward. The company has already said it expects the internet of everything to drive growth in its services revenue from 20 percent of total sales to 30 percent, and has announced, but not delivered an entirely new architecture for a world of connected devices speaking to the cloud.

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