cthings.co – a Polish startup specializing in designing and developing innovative solutions in the domains of IoT sensor networks, LTE and 5G transmission devices, as well as Digital Twin cloud applications, got new investors. The funds: Invento Capital and Satus Starter VC invested jointly PLN 3 million in the further growth of the Startup, which closed the Seed round. On the European market, cthings.co already cooperates with companies from Scandinavia, Germany, Austria and Poland.
IoT is one of the crucial components of digital transformation. For several years, there has been a noticeable increase in the global market for the use of IoT Gateway type of devices. It is estimated that in 2017-2020 this market grew at a rate of 30.9% annually. In terms of volume, it is expected that by 2023 this market will consist of approximately 17.2 billion devices. The integration of remote connectivity into an increasing number of microelectronic devices is one of the major drivers of the rapid adoption of IoT solutions. Polish entrepreneurs also see a chance for the development and implementation of IoT products, and a perfect example of this is the innovations proposed by the Polish startup cthings.co.
The Intelliventory® system developed by cthings.co is based on modular hardware and network software components. This system enables the collection of data from distributed IoT sensor networks in real time, their local processing (Edge Computing) and analysis, data transmission thanks to the 5G network, as well as data processing in the cloud, visualization and reporting.
The Intelliventory® system is used for the collection and control of industrial data, as well as for monitoring the security and location of objects, goods, personnel, alarm communication and communication with external devices and systems. It allows you to increase the efficiency of logistics and optimize production processes.
The investment will be used for commercial introduction and growth of cthings.co products, marketing, sales, as well as expanding the team. The company will also continue the technological development of its devices and software, including grants for R&D.
We decided to invest in this project due to the enormous market potential of the company’s solutions, their ground-breaking innovation, and great commitment of its founders. They come from technology giants and two years ago decided to use the competence and knowledge they had built so far to setup the venture: cthings.co, at the same time involving their own financial resources. We believe that thanks to their experience and our wide network, the dynamic development of the project will be possible – explains the Managing Partner of the Satus Starter, Łukasz Wąsikiewicz.
So far, cthings.co has developed products such as: (eng.) “5G IoT Gateway” – a device for collecting and controlling industrial data, which provides resources of the micro-cluster of cloud computing in connection with data transmission via the 5G network, (eng.) “Smart Industrial Beacons” – an intelligent mesh tissue of sensors for monitoring security and the location of objects, goods, personnel, alarming and communicating in contextual configuration with external devices and systems, or (eng.) “Smart Utilities Radar” – a toolset for monitoring sewage systems or water reservoirs, which analyzes the level of water or sewage and their pollution, which in the event of an emergency, it automatically alerts the relevant systems.
Our team appreciates the investor’s contribution and the combined commitment of Satus Starter VC and Invento Capital funds – thanks to them we are developing at an accelerated pace. Our goal for now is to increase our presence on the European and then global market, which is why we are developing several products in parallel and establishing new technological and business partnerships. Our previous experience in the areas of IoT, Telecommunications and Data Center helps us in this. Thanks to it, the solutions we build are distinguished by efficiency, energy-saving and unconventional approach to serious challenges of our clients. We are the first to present an industrial 5G device fully designed and manufactured in Poland, but targeting the global market – comments Arnold Wierzejski, CEO cthings.co.
The company has already completed pilot implementations of its products, including for entities on the European market such as Nordic Infrastructure Design, Valmont Structures, Spin Robotics. cthings.co specializes in the following domains: 5G, IoT, Edge Computing and Industry 4.0. and cooperates with global cellular operators and cloud infrastructure providers.