European IoT scene gets boost with two new investments from Breed Reply
Breed Reply, a UK-based active operational investor in early-stage IoT businesses, has recently invested in two new IoT start-ups: Norway-based CageEye and Germany-based ubirch.
Since they were launched, both have obtained a total of €5.8 million in funding, including this investment round. This is nothing more than a strategic move for Breed Reply, as investing in these new ventures allows it to expand its pan-European investment portfolio which has now increased to 22 in a variety of different sectors.
CageEye is developer of the AgTech IoT platform that was designed for the salmon farming industry to monitor the behaviour of the biomass in a cage and improve feeding processes. The AgTech platform is an easy-to-install solution and beneficial for producers in terms of cost saving as it delivers fully automated, appetite-controlled feeding that substantially reduces feed waste. On the other hand, ubirch has built a solution that allows continuous chain of security and confidentiality for the collection, handling and storage of data. The chain starts with a blockchain client that can be operated on any IoT sensor, or even batteries. Moreover, critical data is secured between a two-layered blockchain architecture.
In Norway, financial services company DNB ASA has signed an agreement with IOTA – one of the top ten cryptocoins in the world – to work together on “innovation and co-creation in the space of citizen-centric innovation, machine economy and decentralised data marketplaces.” DNB and IOTA share a common objective when it comes to M2M communication and IoT. Both parties will explore and develop a new digital innovation landscape in which Tangle – a blockchain-based blockless technology – will be at the centre of their joint work. DNB has already worked with a decentralised blockchain-based technology.