Nokia Growth Partners (NGP) Lead 10 million USD Investment in Sensoro
Recently, Sensoro (Beijing Sensoro Technology Co., Ltd.) announced the completion of a 10-million-dollar investment. Its investors include Nokia Growth Partners, New World Development Company Limited, and Mandra Capital.
Sensoro was one of the first companies in the world to research Bluetooth low energy smart sensors and seek to internationalize the technology. Incubated in 2013 by Microsoft Ventures in Beijing, the company now operates out of Beijing, China and Seattle, USA.
Sensoro’s products and services have been used to establish iBeacon and Eddystone networks across 51 countries and regions, making Sensoro one of the world’s top three Bluetooth beacon operators. In the two years since its establishment, Sensoro has achieved a marked foundation in iBeacon IoT solutions, demonstrating the company’s dedication to connecting the physical and digital worlds.
Sensoro’s major mainland China partners Microsoft, Google, WeChat, China Railway High-speed, Real Madrid, Chow Tai Fook, Costa Coffee, and Pizza Hut continue to expand cooperation at different levels, realizing numerous benchmark cases in proximity marketing at airports, restaurants, retail shops, museums, tourist destinations, transportation vehicles and other public venues.
“Sensoro has already become a leading representative of Chinese high-tech start-ups moving towards the global market,” CTO in Residence of Microsoft Ventures Accelerator China Qiang Shen said of the alumni startup.
Nokia Growth Partners made an initial investment of 5 million USD, with the remaining investment coming from the New World Development Company Limited, and Mandra Capital. Nokia company’s limited partnership, NGP, was established in 2004 with a concentration on early and middle-stage investments in mobile Internet companies. “Over the past decade, Nokia has developed an innovative venturing strategy. Our ongoing commitment to Nokia Growth Partners reinforces Nokia’s support for a vibrant mobile ecosystem and our determination to collaborate with industry innovators to build great mobile products,” said Nokia's Executive Vice President and Group Chief Financial Officer, Timo Ihamuotila. NGP’s recent investment in Sensoro demonstrates NGP's commitment to increasing its investments in the IoT field. NGP has stated that it will take more steps to increase its investment in IoT in the future.
Sensoro’s core members come from companies such as Microsoft, Netease, Foxconn, and are in areas of data, RF signal, ultra low power data transmission and other fields very well experienced. With this most current investment, Sensoro states that it will continue to increase its efforts in cooperation with current partners, while continuing to expand areas of targeted research and development work in IoT.