New Funding for IP-Based M2M CommunicationsJanuary 27, 2011
Conor Venture Partners 1 million Euro investment in Sensinode to fuel international rollout for the pioneering provider of software for ‘The Internet of Things.’
OULU, Finland -- Sensinode, a leading provider of software that powers the "Internet of Things," announced that Conor Venture Partners will invest 1 million Euro to accelerate the international growth of the company.
"Our mission is to revolutionize business processes with our IP-based embedded software and management solutions, to enable Smart Grid, cellular M2M, enterprise building automation, and asset management markets. We are excited to collaborate with Conor Venture Partners. This new funding and the support of the experienced Conor team will accelerate our growth in the international market," said Adam Gould, CEO of Sensinode.
Sensinode is the pioneer and world leader in IP-based machine-to-machine and wireless sensor networking platforms. It provides end to end software solutions to implement IPv6-based networks, including 6LoWPAN technology, to chip and gateway manufacturers, OEMs, solution providers, engineering houses and system integrators.
The new funding builds on significant developments for Sensinode in 2010, including:
- Closing of a 1.2 million Euro Series A round in early 2010.
- Adam Gould's appointment as CEO, adding 25+ years of technology and marketing management expertise, at companies such as Nokia, NextWave and Motorola, to the firm.
- Joining the ZigBee Alliance, with particular focus on providing software solutions for the new IP-based ZigBee Smart Energy Profile 2.0
"Sensinode is a very interesting company with a great outlook and position in a market that has fast growth expectations. We believe that by providing innovative, standards based platforms, Sensinode will be the key player in making the vision of an Internet of Things a reality," said Sami Ahvenniemi, Partner at Conor Venture Partners.
"IP-based low-power RF standards such as IEEE 802.15.4 are the key element of wireless networks for a connected planet. Our goal is to provide the software to both enable the network devices and provide tools for managing the resulting distributed networks," adds Mikko Saarnivala, CTO and founder of Sensinode.
Sensinode Ltd. is a pioneer in developing commercial 6LoWPAN and related IPv6 technologies for the embedded Internet. Sensinode's NanoStack, NanoRouter and NanoService software are innovative, open-standard, end to end software products that realize the vision of IP-based networks of Smart Objects. Headquartered in Oulu, Finland, Sensinode draws on more than a decade of research and innovation in IP-based wireless embedded systems. A founding member of the IPSO Alliance and member of the ZigBee Alliance, Sensinode's vision is that the "Internet of Things" is the next evolution of the Internet, and will drive IP and Web services technology to all embedded devices. This will enable real-time physical sensing, tracking and identification with enterprise systems and the Internet through scalable low-power networks in Smart Grid, building automation, asset management and other applications.
About Conor Venture Partners
Conor Venture Partners is a leading early-stage technology VC investing in Finland, Sweden and the Baltics. With 70 million euros under management Conor invests in disruptive technologies in ICT, embedded systems, electronics, new materials and optics. The Conor portfolio includes companies such as Aito Technologies, Neo Technology, Imbera Electronics, and Supponor Systems.
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