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IoT Leader Wia Raises 750,000 in Seed Funding Led by Suir Valley Ventures

Managing Partner at Suir Valley Ventures Barry Downes; Senior Advisor High Potential Startup Division at Enterprise Ireland Mike Brennan; and Wia Founder & CEO Conall Laverty.

Wia, one of the leading Internet of Things (‘IoT’) cloud platforms, has secured a seed investment of €750,000 from Suir Valley Ventures, the entrepreneur-led venture capital fund (‘Suir Valley’), with additional funds coming from Enterprise Ireland.

 

Based in Dublin and employing six staff across product development and marketing, Wia plans to hire seven additional staff and to further establish its cloud platform as the ‘go-to’ enabling technology powering the rapidly growing IoT market. Suir Valley’s Brian Kinane will now join Wia’s Board of Directors.

 

Founder & CEO Conall Laverty, 28, from Tyrone, said: “We are thrilled to bring the experience and knowledge from Suir Valley Ventures as partners with us on a milestone in Wia’s journey. The Internet of Things, through which devices communicate with each other is playing an ever-increasing role in both corporate and domestic life around the world, and we believe our platform will take it to the next level.”

 

Every 24 hours, 8.6 million new devices are connected to the Internet. During that short period, €1.9 billion is spent by consumers and businesses on Internet of Things related hardware and services.

 

Wia’s IoT cloud platform enables developers to turn any type of sensing device into a secure, smart and useful application in a matter of minutes. This creates considerable time and cost savings for teams who would have previously had to spend many months on 100,000s of lines of code to try to build out their own cloud infrastructure.

 

Wia is focusing on launching its latest product incorporating the world’s first off-the-shelf IoT billing system later this year.

 

Barry Downes, Managing Partner at Suir Valley Ventures, said: “We are delighted to announce that we are leading the seed venture capital round for Wia. IoT is an important focus area for the Fund and an area of tremendous growth and productivity for enterprises and the economy. Conall has led a superb team to develop a ground-breaking IoT platform that is the easiest and fasted way to link sensors and devices to develop IoT applications.

 

“Wia’s end-to-end platform provides full device and application management, security, data capture and storage, analysis, control, as well as the seamless integration of enterprise systems. We are looking forward to working with Conall and his team to help them rapidly expand the Wia business with developers and enterprises internationally.”

 

Niall McEvoy, Manager HPSU ICT Department at Enterprise Ireland, said: “Wia is an innovative Irish start up that has made strong technical and commercial progress, developing world leading platform technology in the rapidly growing IoT space. The company is combining innovation with global ambition and Enterprise Ireland looks forward to continuing to work with them as they expand and scale in international markets.”

 

Launched in 2015, Wia’s cloud platform is now used by developers in over 85 countries. In addition, Wia has partnerships in place with leading technology companies including Sigfox, PubNub and Twilio, and plans to expand to the US later in the year.

 

In recognition of its pioneering work, in 2016 Wia was selected to join NDRC’s LaunchPad programme, winning their investor day. NDRC is an Irish Government funded agency that was established to invest in digital companies and start up teams with the potential to grow internationally. NDRC currently ranks as No. 2 University Business Accelerator in the World and No. 1 University Business Accelerator in Europe by the UBI Global Index.

 

Speaking about Wia, CEO of NDRC Ben Hurley said: “Wia offers a compelling product which enables connectivity and information-sharing between devices and sensors. They have a really strong team in place with deep technology expertise and clear ambition.

 

“From NDRC’s perspective the company’s potential and capacity for growth was clear when we invested in them initially in 2016 through our investment and acceleration programme, and then with further follow on funding this year. This announcement today will enable Wia to achieve continued employment growth here in Ireland and grow their business into new international markets in the future.”