Jasper has just raised $50 million in its latest funding round led by Temasek, which gives the company a valuation of more than $1.3 billion. Jasper is working on bringing the Internet of Things (IoT) to Coca-Cola's new project, according to VentureBeat.

Jasper described itself in a statement: "Jasper deliver the real-time visibility and control that companies need to launch, manage, and monetize a successful service business, all in a single, turnkey, cloud-based solution."

The Mountain View firm plans to use the new capital to fuel its growth. Jasper will also develop new products and solutions for its clients, the report added.

Founded in 2004, the California-based company provides cloud-based systems needed to power IoT initiatives. It now has more than 1,000 partners using its products to manage their connected devices. It has also teamed up with 19 mobile network companies including AT&T, SingTel, and America Movil. To date, Jasper has raised a total capital of $205 million, VentureBeat reported.