Momenta Ventures is pleased to announce its second investment in NanoThings, a pioneer in long-range, single use tracking of assets.
NanoThings’ patent pending NanoTags™ are the world’s first and only Low Power Wide Area Network (LPWAN) enabled disposable sensors. Thinner than a credit card and powered by ultra-thin, non-toxic batteries, NanoTags are bridging the gap between RFID tags and cellular-based asset trackers. Since our first investment in February of 2019, NanoThings has focused on cold chain asset tracking to ensure traceability of temperature and location for all refrigerated goods.
As we continue to deal with the effects of Covid-19, supply chain companies are scrambling to find the right tools to digitize their operations. The importance of digital traceability is now on the forefront of everyone’s mind while manual processes are not only more costly but now far more dangerous than they were just a few months ago. Doug Harp, Managing Partner with Momenta Partners states: “We see the adoption of technology solutions increase in times of challenge, and nowhere is this more applicable than supply chain. Solutions like NanoThings provide critical visibility to make goods transfer more efficient, resilient and reliable, allowing largely manual procedures to be digitized. This is what we call ‘Digital Industry’.”
In our view, LPWAN technologies are perfect for digitizing these types of industries. NanoThings’ use of LoRa to allow for low power messaging makes tracking cold chain goods feasible at a large scale. Marc Pegulu, Vice President Wireless LoRa and IoT at Semtech commented: “Cold chain is a perfect use for LoRa devices as it benefits from the platform’s ability to reduce power consumption as well as permeate through difficult materials such as those found in refrigerated containers. We are excited to see NanoThings grow to become the standard in cold chain tracking.”
About Nanothings
NanoThings is an IoT "source to store" traceability solution for the supply chain industry. NanoThings's mission is to reduce over a trillion dollars of waste from the supply chain by empowering the industry with product-level visibility. NanoThing's patent pending smart labels (called NanoTags) enable autonomous digital traceability of virtually any product across a multitude of quality control metrics including temperature, shock, changes in custody, and more. Learn more about NanoThings: www.nanothingsinc.com. Reach out to them: info@nanothingsinc.com.
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. For more information, please visit www.momenta.one.
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 40+ young IoT disruptors.
Schedule a call to learn more about our Digital Industry Venture practice.
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