Momenta Invests in IoT Connectivity Solutions Provider Thingstream
Posted by Momenta
Momenta Ventures is pleased to announce its recent investment in Thingstream
Thingstream is a leading provider of connectivity solutions for low-power IoT
The company leverages MQTT protocol over private LoRaWAN networks and GSM (without needing cellular data)
Thingstream is headquartered in England and is led by CEO Philipp Bolliger
Thingstream provides simplified connectivity solutions that support asset tracking, remote monitoring, and other Industrial IoT (IIoT) use cases, including automotive and healthcare. Thingstream’s solutions support low-power, secure connectivity, with coverage in over 190 countries via 600+ carriers. Thingstream’s holistic connectivity approach enables enterprise operations by reducing costs and easing IoT device data collection, thus unlocking IoT benefits for customers. Thingstream recently announced direct support for Low Power, Wide Area Networks (LPWAN) technologies including LoRaWAN.
According to Ken Forster, Momenta Ventures’ Managing Director: “We’re excited to be supporting Thingstream in their journey to connect industrial devices world-wide. As practitioners in Digital Industry, we see reliable, low-cost connectivity as a critical enabler for enterprise IoT solutions. We believe that ubiquitous LPWAN devices, networks and applications, especially those in unlicensed spectrum, will drive dramatic growth in scope and volume in the next few years.” Mr. Forster continued: “We believe our investment in Thingstream will further accelerate this LPWAN trend in Digital Industry, thus complementing our other ecosystem investments”.
According to Thingstream CEO Philipp Bolliger: “We are happy to have Momenta Ventures on-board. Their deep industry knowledge about Digital Industry and their commitment to LPWAN is unique. Momenta’s investment in Thingstream is a significant affirmation of our mission to connect the enterprise via LPWAN, unlocking the potential of IoT”.
Earlier this year, Thingstream split off from Myriad Group and is now readying for a Series A investment round. The company will showcase at the IoT Solutions World Congress in Barcelona, Spain (October 29th-31st)—the premier global IIoT event—where it will also make several key announcements.
Thingstream is a leading provider of Connectivity-as-a-Service for the Internet of Things (IoT) applications. Thingstream’s intelligent Global Connectivity Platform provides low power, low cost, ubiquitous IoT connectivity via MQTT and works in over 190 countries already today. The secure, out-of-the-box IoT connectivity solution leverages both the globally available GSM network as well as private LoRaWAN implementation to offer immediate, global IoT connectivity that no other low power connectivity provider can today. Thingstream specializes in helping simplify IoT connectivity, reducing costs and operational overheads in the delivery of an intelligent network of connected things. For more information visit https://thingstream.io.
About Momenta Ventures
Momenta Ventures is the investment arm of Momenta Partners, the leading Digital Industry Growth Partner firm. Led by deep industry practitioners with strong entrepreneurial and corporate pedigree, Momenta Ventures has made over 30 investments, with notable exits to SAP, PTC, and Husqvarna Group. Momenta Ventures operates two Digital Industry funds, focused on seed and Series A investments in Digital Energy, Manufacturing, Smart Spaces, and Supply Chain. Momenta’s newest fund focuses on LPWAN-powered Digital Industry innovation, specifically LoRa and LoRaWAN. For more information, please visit www.momenta.one/digital-industry-ventures.
Momenta Partners encompasses leading Strategic Advisory, Talent, and Venture practices. We’re the guiding hand behind leading industrials’ IoT strategies with over 200 IoT leadership placements and 25+ young IoT disruptors.