Breed Reply investees hit $194 million investment milestone in early-stage IoT startups
Breed Reply, a London, England-based Internet of Things (IoT) investor, announced today that its investee companies have attracted $194 million (£150m) in investments with over 30 institutional and industrial investors from across Europe, the United States and Asia co-investing with Breed Reply. Breed Reply’s focus is the Internet of Things over all markets, with their current portfolio in Health, Fitness & Wellness, Smart Building & Cities, Security, Industrial IoT, Big Data, Platforms and Drones.
Some notable institutional co-investors include Accel, SOSV, MMC, Tikehau (Ace), Omnes, Sistema, Alliance Entreprendre and IQ Capital, while industrial co-investors have included NTT Docomo, MunichRe, Aviva, BNP Paribas, Sumitomo, Hyundai, Aquaspark, and Statkraft.
Breed Reply’s portfolio of 22 IoT companies (including two exits) have also secured contracts with a series of high-profile, blue-chip businesses, including Lloyds, Danone, Dalkia, Deutsche Bank, McDonald’s, MunichRe, Nissan, US Department of Defence and Volvo. This comes in less than five years after Breed Reply launched in 2015, with its first investment in January that year.
Among the financial highlights of Breed Reply’s early stage portfolio, the combined group of companies will see revenues tripling between 2018 and 2019. The total number of people employed across the portfolio also hit a record high of more than 700.
Founded in 2014, Breed Reply, funds and supports the development of early-stage companies in the Internet of Things (IoT) in Europe and the USA. Based in London, with operational offices in Germany and Italy, Breed Reply supports entrepreneurs and young talent by quickly bringing new ideas to the market. This is done via three fundamental services: funding at early-stage level; active operational involvement with significant know how transfer of business, managerial and technological expertise; and go-to-market support through the extensive Reply network.
“We are very pleased that our investee companies are able to attract such a considerable amount of investments from a string of notable co-investors, proving the very high quality of our portfolio,” Emanuele Angelidis, Managing Partner of Breed Reply, said.
“Our hands-on investment model has made the difference, helping many of our investee companies avoid potential business pitfalls in their early days, leveraging on our industry knowledge and providing operational support across technology, marketing, finance and strategy.
“We are also delighted to already have two exits at this early stage in our fund, including the sale of Sentryo, one of our cybersecurity companies, to Cisco in August this year.”