Enterprise Ireland invests In IoT cloud platform
Venture capital fund, Suir Valley Ventures, has announced it has invested €750,000 into Wia, one of the leading Internet of Things (‘IoT’) cloud platforms. Wia’s IoT cloud platform enables developers to turn any type of sensing device into a secure, smart and useful application in a matter of minutes, generating considerable time and cost savings for teams who would have previously had to spend many months on 100,000s of lines of code to try to build out their own cloud infrastructure.
It provides a vertically integrated offering incorporating management, data capture and storage, analysis, control, as well as the seamless integration of additional services and devices. In line with its strategy to become a one-stop provider of IoT infrastructure, later this year Wia plans to launch its latest product which will incorporate the world’s first off the shelf IoT billing system.
In addition to Suir’s investment, Enterprise Ireland will be investing further funds into Wia, which is looking to establish its cloud platform as the enabling technology that powers the rapidly growing IoT market.
The seed investment will be used to fund Wia’s continued global expansion and further investment into R&D of its technology platform.
Founder & CEO of Wia, Conall Laverty said, “We are thrilled to bring the experience and knowledge from Suir Valley Ventures as partners with us on a milestone in Wia’s journey. The Internet of Things, through which devices communicate with each other is playing an ever-increasing role in both corporate and domestic life around the world, and we believe our platform will take it to the next level.”
Niall McEvoy of Enterprise Ireland added, “Wia is an innovative Irish start up that has made strong technical and commercial progress, developing world leading platform technology in the rapidly growing IoT space. The company is combining innovation with global ambition and Enterprise Ireland looks forward to continuing to work with them as they expand and scale in international markets.”