The fall is a season of the changing of colors, dipping temperatures and, of course, startup funding. Thousands of “ideas” around the globe lay somewhere on the way to fruition, whether it’s R&D or scaling to extend footprint, funds are vital to further these efforts. Innovation moving to the front of the line is that assisting the world climb out of the COVID-19 pandemic.
Munich-based IoT outfit Kinexon announced a 15 million Euro venture debt loan from the European Investment Bank (EIB). The IoT firm develops hardware and software capable of moving the world toward a flattened curve.
The three pillars of Kinexon expertise include sensor network development, edge computing and process automation culminating in real-time measurable benefits. Athletes are used to seeing this sort of technology employed for performance analysis, or delivering fans “next-gen” stats during the game.
Kinexon is unleashing its special sauce against COVID-19 with the SafeZone application. Leveraging a small wearable sensor, SafeZone measures distance between 2 sensors and the duration of proximity. If an office has a case pop up, it is able to identify critical contacts and promote a safe working environment.
The loan will be dispersed in three installments based on undisclosed, pre-determined benchmarks. The influx will go toward development in data analytics and AI, while augmenting the Kinexon footprint in Asia, Europe and the United States.
Oliver Trinchera, co-founder, and MD of Kinexon, explained “Europe is in pole position to shape the future of IoT. With our real-time operating system, we want to play a leading role in connecting these ‘things’ and making them interact in a fully automated way. Over the past few years, the need for our solution has led to annual triple-digit growth.”
Regardless of which market research you read, projections for IoT are robust in the coming years. Growing innovation in people-first technology is propelling expectations, and will play a pivotal role in defeating COVID-19 and
Does your office have re-open plans in place?
Edited by
Maurice Nagle
