Touchstone Innovations has committed $3.8m for a two-tranche investment in internet of things technology developer Concirrus.
Touchstone Innovations, the commercialisation firm spun out of Imperial College London, has committed £3m ($3.8m) in capital to a two-tranche investment in UK-based internet of things technology producer Concirrus.
Founded in 2012, Concirrus operates a cloud-based platform that uses telematics to capture raw data and turn it into actionable insight. The company focuses on fleet and vehicle insurance.
The money will enable Concirrus to attract more insurance clients and boost platform development as well as data partnerships. The company hopes…
