DevicePilot raises £600k angel cash for IoT scale-up
DevicePilot, whose technology is tipped to accelerate progress in unleashing the full power of IoT, has raised over £600k from an impressive list of entrepreneurs and angels to scale the business.
Formerly 1248, the company is based in Cambridge and London UK. The funding will allow the company to focus on delivering its DevicePilot service for IoT device management.
The software continuously monitors and manages thousands or millions of connected products over their complete life-cycle as IoT projects move from pilot stage to deployment at scale.
CEO Pilgrim Beart and chairman Rob Dobson have each previously achieved $100 million exits from new technology businesses, Beart with AlertMe which was sold to British Gas.
He said DevicePilot, shortlisted in the recent Business Weekly Awards, had come a long way in the past two years.
“Since starting the company we've delivered IoT technology with some great partners such as ARM and played a leading role in the development of new IoT standards,” he said.
“But as we engaged with more and more connected-product companies across many different verticals it became clear to us that they all suffer from the same problem as they scale – managing their devices.”
DevicePilot is building a universal answer to this critical barrier to IoT expansion and is in alpha stage with a range of customers, both big and small, to help them to manage their growing device estate.
DevicePilot asset management provides information on what devices have been deployed in the field, who has them, where are they and what software are they running, for example.
It will also monitor how many devices are actually working and use a triage process to discover any problems, while the Lifecycle Management functionality pro-actively configures and updates devices from deployment to end-of-life.
The company draws on the significant experience of its founders who successfully scaled their previous connected-device businesses to a million+ end-customers in areas as diverse as mobile phones, IPTV set-top-boxes and the connected home.
Rob Dobson said: “We ended-up being significantly over-subscribed for this round, which is testament to the strength of the team, the product focus and the exciting growth of the IoT market.”
Angel shareholders in the round include Skyscanner founders Gareth Williams & Bonamy Grimes; serial telco entrepreneur Michael Berman; entrepreneur Gavin Dutch, founder of mobile app developer Kotikan; polymath industrial economist and entrepreneur Prof Irene Ng; serial entrepreneurs Joe and Wendy White and Telefonica's corporate accelerator Wayra Unlimited.
DevicePilot has also earned plaudits for its advisory board, which includes the inventor of the webcam Quentin Stafford-Fraser; the founder of the world's first IoT platform Usman Haque; Telefonica's IoT MD David Taylor and senior personnel at ARM.
The University of Cambridge owns a one per cent ‘Gift Share’ in recognition of Pilgrim Beart's time as a Visiting Fellow at the University's Computer Lab.