Swansea-based Vortex IoT, an Industrial Internet of Things specialist, has received a six-figure investment from the Development Bank of Wales to help it target further international growth.
The company builds sensors and networks for a variety of harsh environments where conditions are hostile, power supply is limited, AI is needed, or data security is critical (
www.vortexiot.com).
The IIOT is revolutionising the way many industries operate; with more and more products connecting to the Internet, it is possible to have instant access to information and data that can vastly improve business operations.
The company’s innovative solutions have already attracted the attention of a number of ‘blue chip’ companies, including Tata Steel, Dell Technologies, Network Rail, BT and Hitachi.
The Development Bank of Wales’ funding boost will allow Vortex IoT to pursue its ambitious growth plans, which involve securing a number of high-profile clients in the UK and abroad, as well as growing its workforce from 15 to 30 by the end of 2019.
The company has recently opened an office in Singapore, expanding its reach into South East Asia.
Adrian Sutton, managing director of Vortex IoT, said: “The nature of our business means that we could have set it up anywhere in the world.
“However, the funding environment in Wales was a real incentive for us when we were making the decision about where to locate our head office.”
Richard Thompson, senior investment executive in the Development Bank of Wales Technology Ventures Team, said: “We’ve worked with over 70 tech businesses based here in Wales.
“Vortex’s offering is innovative and unique, and I’m confident that with this funding, the company will go on to create products that change the way many industries operate.”