Cambridge IoT start-up gets big-name backer
UK-based internet-of-things (IoT) start-up 1248 has received a £250,000 investment from telco entrepreneur Rob Dobson, who will take up the position of chair of the firm’s board.
The company is playing a role in creating an open standard to enable IoT applications and services to work together automatically, as part of a project funded by the UK government’s Technology Strategy Board.
The prime minister, David Cameron has also just pledged to spend an extra £45m with UK firms on developing IoT technology. See: Fragile UK IoT sector needs cash.
“The internet-of-things wave is building and 1248 is in an ideal position to help companies break down vendor silos and implement open IoT solutions at scale,” said Rob Dobson.
Coming from the University of Cambridge Computer Lab, 1248 was set up in 2013 by Pilgrim Beart, co-founder of activeRF, antenova, Splashpower and AlertMe. He is joined at 1248 by Toby Jaffey whose CV includes Polatis, AlertMe, RealVNC, HyperTag and Amino.
“1248 is one of the few start-ups whose founders have real experience of taking connected products to market in the millions and have a real practical and scalable approach to harnessing the opportunities presented by the IoT,” said Dobson.
Dobson founded mobile network optimisation company Actix and has a strong track record of backing successful early-stage technology ventures.
“Rob’s investment is great vindication and support of our strategy and the potential of our market,” said Pilgrim Beart, CEO at 1248.