Breed Reply, the internet-of-things (IoT) investment subsidiary of systems integration and digital services provider Reply, provided an undisclosed amount of funding for two companies yesterday.
France-based industrial energy analytics technology provider Metron and Norway-based temperature-recording technology developer Tag Sensors together raised £3.75m ($5.3m) from Breed Reply and undisclosed additional investors.
Both companies deploy IoT technology in enterprise settings. Metron’s technology enables industrial operators to chart and analyse their energy usage, while Tag Sensors has created a label-sized sensor to monitor live temperatures of heat-sensitive goods like food or vaccines.
Neither company has disclosed previous funding. Breed Reply will assist both with securing additional capital at series A stage and in future funding rounds.
Breed Reply’s European portfolio now comprises 20 companies operating in sectors including industrial IoT, health, smart buildings, cities and transportation. It launched in 2014 and maintains offices in the UK, Germany and Italy.