UK IIOT provider toasts £2.1m investment raise

The funding will allow Konektio – formerly InVMA - to embed its technology in the operations of more customers across industries including food processing, manufacturing, logistics, and water/waste treatment industries. It will also help the company recruit additional staff at its base in Chesterfield and in its recently opened office in the Research Triangle Park in North Carolina, United States.

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“We are entering the exciting scale-up period of our business and fully expect to significantly grow revenues over the coming months, leveraging the power of our solutions and the reach of our channel partners, including Dexis, ECA, PTC and u-blox. The institutional investment secured, including further support from Tern, will help us achieve these goals,” said Peter Stephens, CEO of Konektio.

Konektio’s main product is AssetMinder, an IIoT SaaS product said to dynamically connect people, process, places and things.

The technology gathers data from assets and devices and displays it to all members of the customer’s team via a single interface, allowing them to make decisions on maintenance, servicing, alterations to processes and how they manage their energy usage.