CTHINGS.CO, a Polish-Austrian start-up specializing in creating innovative solutions in the area of 5G, IoT sensor networks and Digital Twin cloud applications has acquired six and a half million zlotys to finance further development.
In accordance with the signed agreement, the lead investor, Level2 Ventures, invested four and a half million zlotys, and Satus Starter VC, as part of the follow-on, two million. The acquired capital will be used by CTHINGS.CO to expand on foreign markets, including project development in Scandinavia and Western Europe, product development, implementation of a marketing and sales strategy and team expansion.
CTHINGS.CO specializes in building 5G, IoT, edge computing solutions, including for Industry 4.0 and geographically dispersed structures. He works with global cellular operators and cloud infrastructure providers. The company’s portfolio includes: 5G IoT Gateway – a device for collecting and simultaneous local processing of large portions of data, CLASP – intelligent mesh tissue – sensors for monitoring the security and position of moving objects and the 5G Suite of Solutions system, enabling data collection from distributed IoT sensor networks in real time and their effective management. The system also allows you to analyze, visualize and report the collected data.
“The advantage of CTHINGS.CO is the ability to build unique, intelligent platforms that use the capabilities of the new 5G network. We decided to invest in an experienced and committed team with strong engineering and business competences. The company’s solutions are already working in several Scandinavian countries and in Poland. Currently, the company is facing the challenge of developing on other European Union markets. We believe that through the strategic and business support we offer at Level2 Ventures, the experience of Managing Partners in building international organizations and effective cooperation with Satus Starter VC, we will significantly accelerate this development” – says Adam Rudowski, General Partner Level2 Ventures.
In the stage preceding the financing round closed on December 21, the company successfully completed pilot implementations of its solutions for Nordic Infrastructure Design and Spin Robotics, and acquired a number of clients for commercial implementations, including companies: Valmont and Va Syd.