European IoT scene gets boost with two new investments from Breed Reply

IoT News is a practical resource providing news, analysis and opinion on the burgeoning Internet of Things ecosystem, from standardisation, to business use cases, and development opportunities. We take the best research and put our own spin on it, report from the frontline of the industry, as well as feature contributions from companies at the heart of this revolution.

Breed Reply, a UK-based active operational investor in early-stage IoT businesses, has recently invested in two new IoT startups: Norway-based CageEye and Germany-based ubirch.

Since they were launched, both have obtained a total of €5.8 million in funding, including this investment round. This is nothing more than a strategic move for Breed Reply, as investing in these new ventures allows it to expand its pan-European investment portfolio which has now increased to 22 in a variety of different sectors.

CageEye is developer of the AgTech IoT platform that was designed for the salmon farming industry to monitor the behaviour of the biomass in a cage and improve feeding processes. The AgTech platform is an easy-to-install solution and beneficial for producers in terms of cost saving as it delivers fully automated, appetite-controlled feeding that substantially reduces feed waste. On the other hand, ubirch has built a solution that allows continuous chain of security and confidentiality for the collection, handling and storage of data. The chain starts with a blockchain client that can be operated on any IoT sensor, or even batteries. Moreover, critical data is secured between a two-layered blockchain architecture.

In Norway, financial services company DNB ASA has signed an agreement with IOTA – one of the top ten cryptocoins in the world – to work together on “innovation and co-creation in the space of citizen-centric innovation, machine economy and decentralised data marketplaces.” DNB and IOTA share a common objective when it comes to M2M communication and IoT. Both parties will explore and develop a new digital innovation landscape in which Tangle – a blockchain-based blockless technology – will be at the centre of their joint work. DNB has already worked with a decentralised blockchain-based technology.

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