Nokia Group Leads $10M Investment In IoT Big Data Startup

Nokia Group Leads $10M Investment In IoT Big Data StartupA startup specializing in big data sensors for the Internet of Things has received some considerable new capital investment. Sensoro has announced that Nokia Growth Partners, Mandra Capital, and New World Development Company Limited have together raised $10 million in funding.

The investment funding round was led by NGP, which explained in a statement that its aim is to look for “innovations that IoT technology has brought to data analysis services and applications,” and “to make a contribution to the development of internationally competitive high-tech in the Chinese startup eco-system.” Sensoro  fits the bill, having been established in Beijing by Microsoft Ventures back in 2013, and grown to develop partnerships with business partners around the world, and satellite offices in Japan and the US.

Right now Sensoro’s main operations revolve around Bluetooth sensors. It claims to have over 100,000 beacons in over 17,000 stores, making it the world’s third-largest Bluetooth beacon operator. But the company continues to develop its capabilities in big data analytics, and that could prove to be a huge growth area as IoT devices help to make such systems increasingly relevant and powerful; for example, numerous embedded IoT devices in manufacturing or in smart buildings could be used to help improve efficiency or to discover potential issues. From this perspective, the latest major investment into the company makes a lot of sense, and more can be expected in the future.