Breed Reply, the UK-based internet of things (IoT) incubator operated by digital services provider Reply, has signed term sheets with three startups to invest a total of £2.45m ($3.7m).
The companies were the winning applicants to Breed Reply’s IoT Best in Breed programme, launched in October 2014 to find the most innovative ideas in the internet of things space.
The first of the companies is BrainControl, an Italy-based startup developing a connected headset that would allow people suffering from brain injuries to control electronic devices with their thoughts.
Cocoon is the UK-based creator of a smart home security system that can detect unusual activity in the home and accordingly send updates to the user’s phone, while Netherlands-based Greeniant disaggregates data from smart meters to provide insights into energy use.
Emanuele Angelidis, chief executive of Breed Reply, said: “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.”