Internet of Things b2b start-up 1248 secures £250,000 from telco entrepreneur Rob Dobson
Seed round to help businesses scale up connected device platforms
Cambridge business to business (b2b) start-up 1248 has secured its first external funding, closing £250,000 from serial telecommunications (telco) entrepreneur, and early-stage investor, Rob Dobson.
Launched in 2013 as a project out of the University of Cambridge’s Computer Lab, 1248 specialises in the Internet of Things (IoT) and sells consultancy, software and services related to IoT to help companies scale up their infrastructure.
Its services include app build and design, firmware and software development, and advice on IoT data network protocols, and it has attracted government interest having recently been involved in the ‘HYPER/CAT’ project funded by the Technology Strategy Board to create open standards for IoT.
It will use the seed round to develop its offering and attract new customers.
As part of the deal, Dobson, founder of mobile network optimisation firm Actix, will take up the position of chairman on the company’s board.
1248 CEO, Pilgrim Beart, commented: “Dobson’s investment is great vindication and support of our strategy and the potential of our market,
“Even more valuable to us is Rob's in-depth market knowledge and contacts.”
Dobson discussed his reasons for investing: “The Internet of Things wave is building and 1248 is in an ideal position to help companies break down vendor silos and implement open IoT solutions at scale.
“1248 is one of the few start-ups whose founders have real experience of taking connected products to market in the millions and have a real practical and scalable approach to harnessing the opportunities presented by the IoT.”