Sensinode, an Oulu, Finland-based provider of software that powers the “Internet of Things”, is to receive €1m investment from Conor Venture Partners.
As also stated by CEO Adam Gould, the company intends to use the funds to accelerate the international growth of the company.
Sensinode has developed IP-based embedded software and management solutions that are designed to enable real-time physical sensing, tracking and identification with enterprise systems and the Internet through scalable low-power networks in Smart Grid, building automation, asset management and other applications.
In the words of Mikko Saarnivala, CTO and founder of the company, Sensinode has the goal to provide the the software to network devices and tools for managing the resulting distributed networks. The company’s vision is that the “Internet of Things” will drive IP and web services technology to all embedded devices.
Sensinode had closed a €1.2m Series A round in early 2010.