Konektio, a Chesterfield, Derbyshire-based business that aims to transform the industry with its Internet of Things software platform, raised £2.1 million to accelerate international expansion.

Konektio received funding from both the Midlands Engine Investment Fund (MEIF) and Northern Powerhouse Investment Fund (NPIF), managed by Mercia and Foresight Group, along with existing investor Tern plc.

The funding will allow the Chesterfield-based business to further develop the product, boost its sales and marketing team, create several new highly-skilled roles at its headquarters, and grow sales in international markets.

Company: Konektio

Raised: £2.1M

Round: Unknown

Funding Month: December 2021

Lead Investors: Midlands Engine Investment Fund (MEIF) and Northern Powerhouse Investment Fund (NPIF)

Additional Investors: Tern plc

Company Website: https://konektio.com/

Software Category: Internet of Things software platform

About the Company: Konektio, which was previously known as InVMA, was founded by Patrick Nash, Jan Hemper, and Jon Hill, who recognized the need for the software due to their work as industrial IoT consultants. Konektio is a one-stop-shop for real-life solutions, helps companies, regardless of industry, meet the challenges of asset monitoring and intelligent data analysis - allowing them to turbocharge their processes for productivity and efficiency. Konektio's industry-leading IoT SaaS platform, AssetMinder, allows you to remotely monitor, predictively maintain, and measure what is important to you. Currently employs around 20 staff at its headquarters in Chesterfield and has recently opened an office in North Carolina.

Source: https://businesscloud.co.uk/news/iot-factorytech-firm-konektio-raises-2-1m/