Cocoon first UK start-up to join Internet of Things accelerator Breed Reply
Startups top 20 company Cocoon to receive support and development to accelerate market presence
Tech incubator Breed Reply, which funds and supports the development of Internet of Things (IoT) start-ups in Europe and the USA, has announced the first three start-ups to enter its programme.
Home security company Cocoon – one of the Startups top 20 of 2014 – assistive technology start-up Braincontrol, and energy data sciences business Greeniant will all receive £2.435m for shareholding varying between 20% and 70%.
UK start-up Cocoon has created a security device that utilises sensors and machine learning technology known as SUBSOUND to learn the normal activity in your house, which it stores in the cloud. If anything unusual happens the user is alerted via mobile notifications, audio and HD video.
Italian start-up Braincontrol has developed wearable assistive technology for sufferers of pathologies such as amyotrophic lateral sclerosis, multiple sclerosis or traumatic injuries. A brain-computer interface allows the wearer to communicate with the external world using brainwaves.
Dutch start-up Greeniant analyses energy consumption using data from smart metres, allowing users and energy providers to see usage by appliance, reducing consumption, their carbon footprint and saving money.
Breed Reply – which received more than 130 applications from around the world in just one month – selected the companies for their innovative solutions in the IoT and wearable technologies sector.
Emanuele Angelidis, Breed Reply CEO, said: “We are very pleased with the results of the first IoT Best in Breed initiative, and we are already working for the launch of the next initiative. These three new venture partners represent excellence in terms of both innovation in the IoT sector and quality of their teams.
“The managerial support offered by Breed Reply to BrainControl, Cocoon and Greeniant in addition to the financial investment will accelerate the presence and success of their solutions in the market.”