Smart City operator Connexin has announced it has raised an initial commitment of up to £80 million in funding to further strengthen its position and become the leader in the smart infrastructure and Internet of Things (IoT) sector.
The new investment, provided by Whitehelm Capital, will support the expansion of the business to meet the expected growth in demand for smart networks in UK cities and their connecting infrastructures, enabling better connectivity, as well as smarter, more efficient services to communities.
Connexin uses an IoT foundation for its digital strategy and its smart city operating system, Connexin CityOS, allows communities to be fully programmable with its next generation network. CityOS centralises information to generate insights to improve the wellbeing and quality of life for individuals.
Connexin has already achieved many ground breaking achievements in a short time frame. In 2019, Connexin delivered the UK’s first purpose built smart city operating system for Hull City Council and this year helped Amey implement Connexin’s CityOS platform to improve highway maintenance services across Sheffield. The added investment from Whitehelm will enable Connexin to accelerate its business strategy and maintain resilience, whilst responding to the market demand for smarter infrastructure and technology.
“This investment isn’t just about Connexin. It affects every community. Everyone deserves clean air, tidier streets, safer roads. By allowing all communities to have access to our digitally connected infrastructure, it enables connected devices to “speak” to one another which paves the way for amazing things,” says Furqan Alamgir, founder & CEO of Connexin. “By way of example, we create solutions for councils that can monitor air quality and communicate this information with people who suffer with breathing conditions to help against prevent asthma attacks and reduce hospital admissions. We’ve also helped the utility sector with smart metering for leak protection for better water performance to help tackle the problem of 3.1 billion litres of water lost each day due to water leakage. With this investment, we can replicate the success we have in building smart communities across the country. It’s how we all want to live by just being smarter.”
“This financing further validates the digital transformation we have delivered within cities, communities and the utility sector through our leadership and innovation in the smart infrastructure and IoT space.”