Today Sensolus, a provider of IoT-based asset tracking solutions, has closed a financing round of €3.5 million, led by btov Partners’ Industrial Technologies Fund, in addition to existing investors Annie Vereecken, Capricorn ICT Arkiv and Quest for Growth. The funding will further accelerate the company’s international growth and help realize its product roadmap.
Logistics and supply chain processes depend on transport carriers such as pallets, boxes, containers, returnable transport packaging and trailers. Currently, most of those non-powered assets are not connected to the internet, resulting in lost and unused assets, stock shortages or under- and overcapacity. Sensolus, founded in 2013, solves these problems and provides a cost-effective end-to-end IoT solution to track these transport carriers in real-time and optimize the underlying process flows.
The solution consists of wireless trackers that are installed as simply as a sticker, last up to 7 years without charging and communicate with the internet in real-time without requiring any other infrastructure. These wireless trackers collect crucial location, activity and sensor data, which Sensolus combines with existing process data to generate supply chain metrics, to alert on anomalies and to detect patterns which can lead to actionable insights for optimizing processes. Multiple industry leaders (e.g. Airbus, Volvo, AB InBev, SUEZ, T.C.R.) rely on Sensolus’ technology to get real-time visibility in their daily operations and save substantial costs.
The company’s fresh capital will accelerate Sensolus’ growth in its existing market segment and to open up new segments in Europe and US. Moreover, the company will expand its solution to connect more types of assets which are omnipresent in the global supply chain.
Kristoff Van Rattinghe, CEO and co-founder of Sensolus is positive about the investment: “It is great to welcome the international investor btov Partners with their Industrial Tech Fund. We are entering a new era of the connected supply chain we will be connecting millions of non-powered assets in the years to come.”
The interplay between cloud as well as edge intelligence on the tracker makes the Sensolus solution unique. It makes it possible to capture and analyze the behaviour of many different assets in a reliable, energy-efficient way and in a wide variety of verticals Sensolus is active in. This cloud/edge combination also makes low-power asset tracking available as a plug-and-play solution, meaning it can scale to track large fleets of assets without losing control of the operational risk.
Benedikt Kronberger, partner at btov’s Industrial Technology Fund commented: “Sensolus’ diverse team possesses significant domain expertise and great technological knowhow in the fields of both hardware as well as software development. Sensolus’ offering, with its low overall total cost of ownership, a long battery life as well as superior analytics capabilities convinced us to join the strong existing investor consortium. Moreover, through its patented technology, the company is ideally positioned to further consolidate its position as a market leader in the fast-growing industrial IoT market for asset tracking and process optimization applications.”
Marc Lambrechts, board member at Sensolus and investment manager at Capricorn Partners said: “From the start, we have been charmed by the capabilities of the Sensolus team to deliver scalable, reliable and mission critical end-to-end solutions to top tier industrial clients. With this additional investment Sensolus will be able to expand further in the journey from collecting quality data to actionable insights.”