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January 28, 2011

Conor Venture Partners Fund Sensinode's "Internet of Things"

Sensinode, a pioneer in developing commercial 6LoWPAN and related IPv6 technologies envisions an “Internet of Things” that will drive IP and Web services technology to all embedded devices, enabling real-time physical sensing, smart grid, building automation and other applications.

Conor Venture Partners, an early-stage technology VC investing in Finland, Sweden and the Baltics, is expected to invest  about $1.4 million to ensure rapid and significant developments for Sensinode. Technology centric and business focused, the company said it looks for protectable technologies and platforms that enable the creation of novel industry categories or taking over existing ones.

“Sensinode will be the key player in making the vision of an Internet of Things a reality," said Sami Ahvenniemi, partner at Conor Venture Partners. 

Adam Gould, CEO of Sensinode spoke of the company's mission to revolutionize business processes with IP-based embedded software and management solutions, to enable smart grid, cellular m2m, enterprise building automation, and asset management markets. He added that the new funding and the support of the experienced Conor team would accelerate the company's growth in the international market.

Sensinode provides end-to-end software solutions to implement IPv6-based networks, including 6LoWPAN technology, to chip and gateway manufacturers, OEMs, solution providers, engineering houses and system integrators.

The new funding would pave the way for closing of a $1.4 million Series A round and joining the ZigBee Alliance, with particular focus on providing software solutions for the new IP-based ZigBee Smart Energy Profile 2.0 

Mikko Saarnivala, CTO and founder of Sensinode., said in a statement that IP-based low-power RF standards such as IEEE (News - Alert) 802.15.4 were the key element of wireless networks for a connected planet and the company's goal was to always be in a position to provide the software that would enable the network devices and provide tools for managing the resulting distributed networks.

Headquartered in Oulu, Finland, Sensinode draws on more than a decade of research and innovation in IP-based wireless embedded systems.

Want to learn more about Smart Grid technologies? Then be sure to attend the Smart Grid Summit, collocated with TMC’s (News - Alert) ITEXPO East, taking place Feb 2-4, 2011, in Miami. The Smart Grid Summit is the first event of its kind to address the unprecedented opportunity coming from the intersection of two core building blocks of our economy – utilities and communications. This unique event is based on the joint vision of TMC and Intelligent Communications Partners (News - Alert) to create a new forum for and actively engage an entire community. To register, click here.


Mini Swamy is a contributing editor for TMCnet. To read more of her articles, please visit her columnist page.

Edited by Janice McDuffee
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