Belgian industrial IoT startup Sensolus has raised €3.5 million to develop and expand its logistics system, which helps companies track non-powered assets (or devices and equipment that aren’t ‘smart’) in supply chains and industrial manufacturing. The investment came from btov Partners, Annie Vereecken, Capricorn ICT Arkiv and Quest for Growth. The latter two investors led a €2.75 million funding round three years ago.
Logistics and supply chain processes depend on transport carriers such as pallets, boxes, containers, returnable packaging and trailers — most of which aren’t connected to the internet, resulting in lost and unused assets, stock shortages or under- and overcapacity.
Sensolus’ solution? A sticker that lasts seven years without charging. These wireless trackers can communicate with the internet in real-time without any other infrastructure, collect data on location and activity. The SaaS platform combines this with existing process data to generate supply chain metrics and other information that helps optimise logistics.
The Ghent-based company got started in 2013 to solve these issues, building from expertise in low-power networks, wireless sensor design, cloud-based sensor management and analytics. The product is now used in 15 countries by customers such as Airbus, Volvo, AB InBev, SUEZ and T.C.R.
Expanding throughout Europe and the US is the next priority, as well as expanding the product itself. The Belgian startup wants to connect other types of assets that are “omnipresent in the global supply chain.”
Photo: Sensolus team