Treon, a Finnish Tampere-based company that develops smart wireless devices and hardware platform for IoT-solutions, announced today that it has raised a 1MEUR seed funding round with the support of a strong group of angel investors and leading early stage global 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 (www.varjo.com) and HappyOrNot (www.happy-or-not.com)”, says Treon CEO Joni Korppi.
“The new funding and a group of experienced investors will help us to focus even more on development and global market introduction of Treon branded products for IoT-solutions, starting this year already.”
INVESTORS TRUST IN TREON’S EXPERIENCED TEAM
The seed funding of 1MEUR shows an eminent and global trust in Treon and its product development, as well as in its already existing products. The funding comes from two major parties: a group of independent, experienced entrepreneurs, and Ventech (www.ventechvc.com), the leading pan-European VC fund investing in early-stage tech-driven start-ups.
“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,” says 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.”
HARDWARE IS A KEY BUILDING BLOCK FOR SUCCESSFUL IOT-SOLUTIONS
The seed funding will help Treon to continue developing exciting ground-breaking products to selected IoT-solution areas, such as Industrial Condition Monitoring and Asset Management, and bring its current portfolio of devices to market.
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. Treon Gateway comes with preloaded support for Wirepas Mesh and its hardware is ready to support Bluetooth Mesh.
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. 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 (www.sulzer.com) 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. Our investors are helping us in this work, both concretely and mentally, and we are grateful for that,” says Joni Korppi.