FED4SAE funding and private investment of over Euro 500,000
FED4SAE and Digital Catapult helps IoT Solutions Group to obtain the financing to grow and scale
Harnessing IoT technology to provide insight that transforms service effectiveness and efficiency
IoT Solutions Group, a FED4SAE participant, has developed a range of solutions that helps clients make smart decisions and improve the efficiency of their operations.
One of its solutions helps organisations make waste management more efficient, reduce environmental impact and reduce potential damage to assets.
Working with components from STMicroelectronics, its low power STM32 based LPWAN microcontrollers to check the status of bins while providing real-time reporting and actionable insight so that waste disposal can be managed more effectively.
Building a diverse portfolio
IoT Solutions Group has also developed a range of solutions to help public and private sector organisations respond to Covid-19 and other operational challenges that affect customers and residents.
One such example is an aid to vulnerable social care users that discreetly monitors activity levels and raises alerts if expected activity falls below pre-determined thresholds – indicating a potential accident or illness. This early warning system helps care providers prioritise service users in most need and optimise resource allocation.
The device is simply posted out to the recipient, sits on a kitchen shelf and needs no user interaction, internet or mains power.
Without the FED4SAE funding and Digital Catapult support, the research and development needed to diversify would not have been possible.
FED4SAE support and opportunity
IoT Solutions Group responded to a FED4SAE open call. This funding would give the team greater capacity and enable it to scale up and market products and services in Europe. Along with technical support from Digital Catapult and STMicroelectronics, IoT Solutions Group also received €58,000 funding from the Horizon 2020 FED4SAE project.
The team is proud to have closed an investment funding round after the COVID-19 lockdown began, which is a testament to the value proposition offered.
The close relationship with Digital Catapult hugely impacted IoT Solutions Group, helping it to gain traction within a target market early on. The relationship has opened fresh opportunities to launch products in Europe, recently obtaining new major business leads.
FED4SAE has provided IoT Solutions Group with:
- Support for integration of the STM32 microcontroller
- Intensive pitch training
- Facilitating introductions to investors at a FED4SAE event in London in February 2020
- Innovation management and access to market.
This grant funding through the FED4SAE Horizon 2020 programme and additional connections with industry partners has been a significant help in developing the sensors themselves and enhancing the effectiveness of the end to end solutions that IoT Solutions Group provides.
By working with experienced technology partners and other support teams, the speed to market and impact made has been greatly increased and has been an important aspect of IoTSG’s success with several private and public sector organisations in 2020.
IoT Solutions Group delivers scalable solutions across the whole value chain, including hardware, software, network connectivity and insight for organisations of all sizes.
‘Whilst we are experts in the field of IoT, having worked in the industry for a number of years, starting our own organisation presented a variety of fresh challenges, so the support of Digital Catapult and FED4SAE gave us a huge boost in confidence, as well as providing access to specialist expertise and independent perspectives. Along with access to funding, they helped us build a corporate CV and enhance our approach to the market. Having their backing has also provided us with valuable credibility, which greatly assisted our investment efforts.’
(Neal Forse, IoT Solutions Group Co-founder)
- Winner of the Digital Catapult Platinum Award in the IoT Category
- Meeting with investors after pitching during FED4SAE Investor Day in February 2020 helped the company raise over Euro 500,000 for its seed round funding in April 2020
- Competed in and won three local authority challenges
- Signed contracts with large organisations in the industry
- Talk for 17 local authorities during the workshop “How local authorities can use IoT and digital technologies to tackle COVID-19 and spur recovery”, Digital Catapult, October
Authors and Contributors: Digital Catapult, STMicroelectronics, IoT Solutions Group
All images © IoT Solutions Group