Polish CTHINGS.CO raises €4.5M for international development
CTHINGS.CO, a Polish startup specializing in creating solutions in the area of 5G, IoT sensor networks and cloud applications, has informed AIN.Capital about its fresh €4.5 million. The funding round was backed by Orlen VC, PKO VC, Freya Capital, and an existing investor, Level2 Ventures.
- Founded by Arnold Wierzejski, the startup specialises in developing innovative solutions in the area of IoT sensor networks, LTE and 5G transmission devices, as well as Digital Twin cloud applications. The solutions developed by CTHINGS.CO enable real-time collection of data from distributed IoT sensor networks, local processing and analysis, data transmission through new-generation cellular networks, as well as cloud data processing.
- The company has customers in Scandinavia, Germany, Austria, Spain, and Poland. Two years ago, CTHINGS.CO secured €660,000 in a seed funding round from Invento Capital and SATUS Starter VC funds.
“The investment comes at a crucial time for us. We are seeing increased interest in our products andArnold Wierzejski, CEO and founder of CTHINGS.CO, adds.
services from the European and US markets. Industrial 5G networks are becoming a reality, and our solutions are a perfect fit to address the needs that exist there. The investment consortium is a group
of the largest investors from the CEE region, and we are very positive about further cooperation on several levels – technological, business and financial. We are planning further technological development, business expansion and the establishment of international partnerships. Our priority is to take a key place in the 5G technology ecosystem of the industrial sector,”
- The investment saw participation from Polish Orlen VC, a corporate venture capital fund, Freya Capital, a fund supporting entities seeking financing for the development of innovative technologies, and Level2 Ventures, which invests in technology startups in the areas of B2B SaaS, AI-based solutions, WEB 3.0 & Blockchain, sustainability, medtech, and pettech.
- CTHINGS.CO will use the raised capital to accelerate expansion in foreign markets, build international structures and further product development.