Tampere-based Treon designs smart wireless devices and hardware for IoT solutions. The startup specialises in leveraging wireless connectivity and mesh technologies to build massive scale IoT in smart buildings, asset management, and in industrial settings.
Treon has now raised a €1 million seed funding round from a strong group of angel investors and the early stage VC Ventech.
“We’re so proud of the progress we have made since Treon was founded in late 2016. We have already established Treon as a hardware product design company of choice for market innovators such as Varjo and HappyOrNot,” said Treon CEO Joni Korppi. “The new funding along with a group of experienced investors will help us to focus even more on development and the global market introduction of Treon branded products for IoT-solutions, starting this year.”
“In Treon, we are most impressed by the people: an experienced, and highly qualified and innovative team of smartphone professionals with exceptional pedigrees who made a successful transition to developing hardware and software for IoT solutions,” said Tero Mennander, General Partner at Ventech. “Particularly when combined with the IoT product market uptake, Treon stands out as an exceptional fit for our vision and strategy.”
The seed funding will help Treon to continue developing products to selected IoT areas, such as Industrial Condition Monitoring and Asset Management, and bring its current portfolio of devices to market. Its product Treon Gateway is an edge computing platform that can connect a mesh of sensor devices to any cloud platform. Wireless mesh networks are easy and cost-efficient to deploy, adaptable and freely expandable. Its products Treon Node and Treon Industrial Node are wireless, battery-operated sensor devices that operate in a mesh network. Treon Node measures indoor environmental and air quality via a variety of sensors, while Treon Industrial Node monitors the condition of rotating equipment, such as pumps, by measuring equipment vibration and surface temperature. Treon Industrial Node has been codeveloped with Sulzer Ltd and will be commercially available during the first half of the 2019.
“Great hardware is a key building block for IoT-solutions in many vertical solution areas. We will continue to work closely with our customers, old and new, to bring to market products that are designed both for industry and customer needs,” said Korppi. “Our investors are helping us in this work, both concretely and mentally, and we are grateful for that.”