The ETH Spin-off focusing on edge-to-cloud industrial IoT solutions has received CHF 3 million loan guarantee from the Technology Fund and CHF 2 million from an undisclosed investor, bringing the total funding to CHF 5 million. The funds will fuel product development and market expansion.
Founded in 2014, qiio leverages its experience in IoT hardware, embedded technology and cloud services to offer an edge-to-cloud IoT solution that covers hardware, software, cloud and operation. Customers can securely connect, monitor and control through qiio IoT solutions via an online dashboard. The solution offers clients with real-time information in the cloud, enhanced efficiency and cost reduction in addition to enterprise-grade security that runs globally.
To expand the market and conduct further product development, qiio has secured a CHF 5 million seed round from the Technology Fund and an undisclosed investor.
Simone Riedel Riley, General Manager of the Technology Fund, says, “More and more enterprises look into digitalization to improve operational efficiency and reduce greenhouse gas emissions. We are therefore happy to support qiio, an innovative company that brings real-time monitoring and significantly reduces field service trips.”
Felix Adamczyk, CEO and founder of qiio, says: “The support of the Technology Fund is an important milestone for qiio. This acknowledgement proves that qiio’s business model and innovative solution brings significant impact to industries and reduces environmental impact.”
(Press release)
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