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[Funding alert] Italian IoT Startup WSense Secures €9 million in Funding

Oct 24, 2023 | By Startup Rise EU

WSense, an Italian Internet of Things firm, has raised €9 million. SWEN Blue Ocean took the lead in this round. Along with Moonstone, other investors included CDP Ventures, RunwayFBU, Axon Capital Partners, Katapult Ocean, CoreAngels Climate, and others.

WSense, an Italian Internet of Things firm, has raised €9 million. SWEN Blue Ocean took the lead in this round. Along with Moonstone, other investors included CDP Ventures, RunwayFBU, Axon Capital Partners, Katapult Ocean, CoreAngels Climate, and others.

WSense will be enabled to speed up its global expansion and pursue quick growth as it focuses on Europe and the Middle East thanks to the new financing. The company already has a number of worldwide clients, including Leroy, Leonardo, Saipem, and the National Oceanography Centre.

Read also - Italy-based Startup Data Masters Secures €200K in Funding

Wireless communication underwater is rendered possible by WSense's patented technology, which opens up a wide range of use cases, including the monitoring of vital infrastructure, the transition to energy from renewable sources, real-time environmental monitoring, and sustainable data-driven aquaculture.

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The ability to collect undersea data is made possible by technology, which is essential for the health of our oceans and the fight against climate change.

Read also - Ukraine-based Product Development Company Trinetix Raises $10 million in Funding

Chiara Petrioli, co-founder and CEO said, “Thanks to our ability in enabling technologies that were previously impossible in the marine environment, along with our ability to develop cutting-edge solutions, I believe WSense is well positioned to make a positive impact to our planet. We are in fact developing partnerships that consolidate us in emerging areas such as marine renewable energy, submarine autonomous robotics, and infrastructure security and surveillance,"

Sagar Chandna, Senior Partner and CTO at RunwayFBU said,"As early-stage investors within the Aker Group, our unique ecosystem amplifies the speed and scope at which Wsense can deploy and refine its innovations. This strategic collaboration is more than an investment; it's a partnership aimed at harnessing the ocean's untapped potential,"

About WSense

The Sapienza University of Rome's spin-off WSENSE has a strong and seasoned R&D team that specialises in monitoring and communication systems with ground-breaking patented solutions in the Internet of Underwater Things (IoUT).

Prof. Chiara Petrioli, who directs the Sapienza PhD programme in computer science, the Sapienza SENSES Lab, and the Sapienza Cyber Physical System Lab, founded WSENSE in 2012.

Read also - Hungary-based Startup Flawless Secures $2.2 Mn in Seed Funding

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