Italy-based systems integration and digital services provider Reply has launched an investment programme, Breed Reply, targeting internet-of- things (IoT) startups in the US and Europe.
The accelerator, which will operate out of London with additional offices located in Germany and Italy, will focus on funding and supporting companies working on IoT products. Start-ups will be able to apply for seed and early stage funding, alongside mentorship, consultancy and access to Reply’s clients and network of companies.
Emanuele Angelidis, Breed Reply’s chief executive, said: “Breed Reply represents a great opportunity for startups. Alongside the traditional financial support, it provides significant entrepreneurial and managerial expertise as well as synergies with the Reply world.
“We are looking for initiatives set up by talented people who are able to bring together excellence and highly innovative ideas with a large addressable market.”
Start-ups can currently apply for the programme up to the 14th November. Breed Reply has already made its first investment, paying £675,000 ($1m) for a 30% stake in Xmetrics, the Italy-based producer of a wearable swimming device allowing swimmers to better analyse their performance.