Yes, it can but not with any of the IzoT SDK 2 (2.00.29) pre-built images.
The IzoT SDK 2 Device Stack Read-to-Run SD image built for the Raspberry Pi was built on a Linux version not supported on the Raspberry Pi 2 at the time. Newer Debian linux's are supposedly supported on both Pi and Raspberry Pi 2 but we haven't look those yet.
You need to take the SDK source and build that on a linux that is supported on the Raspberry Pi 2.
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