Imperial Innovations, the technology transfer unit for Imperial College London, has invested £3m ($4.69m) into Concirrus, an internet-of-things startup.
The series A round will be used to allow Concirrus to further develop its range of products, aimed at insurance, fleet, and industrial markets. Its products allow customers to utilise data from internet-of-things connected devices to produce businesses with way to create and improve on disruptive innovative solutions.
As part of the deal, Kelsey Lynn Skinner and Chris Gomersall of Innovations will join the Concirrus board.
Andrew Yeoman, CEO at Concirrus, said: “My co-founder Craig Hollingworth and I have built this company to bring IoT capability and its underlying business value to a broad range of companies. Despite approaches from a variety of corporate and financial investors, we have not taken any outside capital to date. However, we were attracted to the Imperial Innovations model for working closely with management in technology-differentiated companies to build and scale for long-term success.”
