CTHINGS.CO, located in Warsaw, has raised €4.5 million. Orlen VC, PKO VC, Freya Capital, and Level2 Ventures joined an existing investor, Freya Capital, in the investment round. The funds produced will be put to use by CTHINGS.CO to quicken international market expansion, create global facilities and advance product development.
Building 5G, IoT, and edge computing solutions for Industry 4.0 and companies managing distributed data gathering infrastructure is CTHINGS.CO’s area of competence.
They work along with international mobile providers and cloud infrastructure suppliers. The business has been actively collecting clients and carrying out agreements in Poland, Germany, Austria, Spain, and Scandinavia.
Arnold Wierzejski, CEO of CTHINGS.CO, said: “The investment comes at a crucial time for us. We are seeing increased interest in our products and services from the European and US markets. Industrial 5G networks are becoming a reality, and our solutions are a perfect fit to address the needs that exist there. The investment consortium is a group of the largest investors from the CEE region, and we are very positive about further cooperation on several levels – technological, business and financial. We are planning further technological development, business expansion and the establishment of international partnerships. Our priority is to take a key place in the 5G technology ecosystem of the industrial sector.”
In addition to CLASP, a sensor system for monitoring the location and safety of moving objects, the company’s portfolio also includes the 5G Suite system for real-time data collection from distributed IoT sensor networks and efficient remote management through Orchestra Platform hardware, including the 5G IoT Gateway.
Zbigniew Barwicz, from Freya Capital, commented: “For the past few years, we’ve noticed a rapid growth in the global market for IoT Gateway device applications, something that we, at Freya Capital, are very excited about. It is estimated that the market will grow at a rate of nearly 60% per year between 2023 and 2030, and is expected to reach around $250 billion in 2026 alone. The integration of connectivity across an increasing number of devices is one of the main drivers of the rapid adoption of IoT solutions in the global economy, and we see CTHINGS.CO as a potential leader in this market. We are very impressed with the company’s management team and believe that with the support and funding they have received, they will be able to achieve numerous successes.”
Marek Garniewski, from Orlen VC, added: “Our investment in CTHINGS.CO is an example of generating value across ORLEN Group’s innovation ecosystem. Together, we are already implementing a pilot project related to a system for monitoring water effluent at the Plock refinery, as well as a proof-of-concept project for testing an ecosystem of 5G network technologies and services, launched through our ORLEN Skylight innovation accelerator. Our capital commitment to CTHINGS.CO is not only the result of our good cooperation to date. We are supporting this start-up because we are seeing a growing interest in smart solutions for industry in Poland and Europe, and the Polish company is effectively responding to these needs and has good prospects for further growth.”
CTHINGS.CO create comprehensive 5G IoT solutions that are meant to unlock the latent potential in assets and processes. Processes and assets are far more complex than what the unaided eye can see. Even seemingly little activities and products are glistening with astounding amounts of data that may hold the secret to increased productivity, decreased costs, and sustainable growth.
Our company specialises in creating reliable yet simple-to-use 5G IoT solutions that empower our clients to make superior judgements based on priceless data that is concealed in many facets of their enterprises.