Last week, Sentiance, a data science company aimed at IoT devices, announced that it raised EUR 8 million in a funding round led by Volta Ventures, a Benelux-based venture capital firm operating in the software and internet technology sphere. Other participants in the funding round were KPN Ventures, Samsung Catalyst Fund, Qbic, and Pamica, alongside the top management of the company.
The funding round is aimed to scale up the sensor analytics platform build by Sentiance, while also accelerating international expansion in the US and Asia. The investment in IoT is justified by the clear move towards increasing connection of products to the internet, resulting in a great set of opportunities and challenges for companies operating in this industry.
Sentiance is ideally placed to capitalize on this trend, as their platform is focused on analysing sensor data from mobile phones, wearables and a large host of IoT gateways. The Sentiance platform can be used by their clients to enrich data with real-life behavioural data so they can deliver context-aware and highly personalized experiences. Sentiance already powers many applications including world class telematics and driver scoring, personalized health coaching, real-time customer engagement as well as smart home products and services.
Volta Ventures is confident about the future of Sentiance, seeing enormous potential in the momentum in IoT. “Major players in the insurance, ride-hailing, mobility, health and IOT industries use Sentiance’s AI platform to power the Internet of You. This has the potential to change the lives of everyone around us which makes working with the Sentiance team such a positive and rewarding experience.” According to Frank Maene, Managing Partner at Volta Ventures.
About Volta Ventures Volta Ventures is a venture capital fund that specialises in providing funding for companies that offer innovative, deep tech solutions, including fintech companies, in the Benelux. Founded by Frank Maene and Filip Vandamme, along with 30 business angels, Volta Ventures is also backed by the Flemish government and the European Investment Fund. With 55 million assets under management, Volta Ventures is one of the largest venture capital firms focussing on early-stage companies in the Benelux.
For more information on Volta Ventures, visit their website or have a look at our Member Spotlight here.
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