Vannin Ventures invests in Innovative UK IoT Technology Firm

Vannin Ventures, the Isle of Man-based business incubator, has invested in Trak365, the UK technology start-up focused on accelerating the development of a smart economy by using leading-edge IoT (Internet of Things) technology.

The investment, says Vannin Ventures, is the start of a partnership to develop and scale-up Trak365’s innovative solution on the Island, in the UK, and across Europe. Trak365 has developed a high-quality, highly-configurable and easy to deploy solution for intelligent IoT connectivity and they are well positioned to benefit from the massive growth that is forecast in the IoT market.

Trak365’s intelligent IoT solutions enable users to measure virtually anything and then automatically trigger, based on pre-set rules defined by the user, notifications, alarms and actions, in response to that input.  This highly customisable approach enables the effective, automated monitoring of and response to, a massively wide range of situations.  For example, if the temperature indicates there is a risk of frost damage to crops, heaters can be activated automatically to mitigate the threat – or if a river is rising rapidly, a warning can be sent via SMS to the community so that they can prepare.  Both of these scenarios are real-life examples of Trak365 deployments in the UK.

Tom Meageen, Managing Director of Vannin Ventures, commented:  “We all know that IoT will help to shape the future, but the practicalities of providing wireless connectivity for digital and legacy analogue devices is a real challenge for all technology businesses.  While many companies claim to have a ‘plug and play’ solution that is easy to deploy, the reality is often very different.  We’re investing in Trak365 because it is the highest quality, most reliable, and most flexible IoT solution that we could find. Trak365 has the potential to support a massive range of applications in all sectors of the Island’s economy, and the public sector.”

In addition to its investment in Trak365, Vannin Ventures - which is part of the Manx Telecom group of companies - is also in the process of developing an IoT test bed on the Isle of Man, which will be used to showcase and support Trak365 and other, future IoT technology partners.  The Isle of Man is uniquely well-positioned to offer this inviting ‘proof of concept’ environment and Vannin Ventures is committed to supporting its development. 

Laurence Skelly MHK, Minister for Enterprise, commented: “As an Island we strive to be at the forefront of emerging technology and innovation. It is encouraging to see companies like Vannin Ventures taking the lead in investing in new concepts that may have far reaching implications for both businesses and people in the Isle of Man.”

At the heart of Trak365’s solution is their digital endpoint device; designed, developed and manufactured by the company in the UK.

Trak365 Managing Director, Roger Roberts, said:  “We are very proud of the innovative products we have developed so far and are excited about the future potential for our intelligent IoT solutions.  We are delighted to now be partnering with Vannin Ventures, as we enter the next stage of our development.  As two businesses, we have very complementary skills and by working together, we can unlock the limitless growth opportunities open to us.”

For more information, and to see Trak365 case studies, go to www.trak365.com