Industrifonden exits Fältcom, Scandinavian market leader in IoT
Industrifonden and other existing owners sells its entire holding in Scandinavian IoT market leader Fältcom to Telia Company. In recent years, Fältcom has established itself as a leading innovator in the international IoT space.
Headquartered in Umeå, northern Sweden, Fältcom has established itself as a front runner in the global IoT arena. Connecting vehicles, machines and buildings globally, Fältcom enables customers to manage and analyze machines, buildings, and systems online. As a result, this lowers costs, provide better information about usage and, in many cases, new and improved functionality for Fältcom’s customers.
Fältcom currently has more than 160,000 installed devices, 40,000 of which are online. Its technology is found in everything from Volvo’s test cars and thousands of buses across Scandinavia, to all Swedish weather stations and speed cameras. If you step into an elevator, it is probably Fältcom that ensures you can travel safely with a functioning alarm system.
– The collaborative and innovative strategy of the company has paid off, and the company is ideally positioned to leverage the further dynamic growth in the IoT field, says Industrifonden investment manager Per Anell, adding:
– We are delighted to have found an acquirer with the spot-on industry expertise to support Fältcom’s further expansion.
Industrifonden made its first investment in Fältcom in 2010 and has, together with SEB Venture Capital, been the largest shareholder in the company.
– Industrifonden has been an ideal partner in realizing the full potential of our technology and to bring it to the global market. Their strategic insights and network has been important success factors for us and enabled our position as market leader, says Mikael Långström, CEO Fältcom.
Recent achievements include delivering the platform to VW Group’s Electronics Research Laboratory for a gas delivery service in Silicon Valley used by luxury connected cars and a contract with New York City Department of Transportation (NYC DOT) for a program to improve the dissemination of real-time traffic information to New York City bus stops.
Media contact
Sara Mattsson, Industrifonden
+4670 87 87 758
sara.m@industrifonden.com
About Fältcom
Fältcom connects the world through the Internet of Things. With our MIIPS platform and its apps, you can control, monitor, or analyze machines, buildings, and systems over the Internet. For our customers, this means lower costs, better information about usage, and in many cases brand new functionality.
About Industrifonden
Industrifonden is a Nordic venture capital investor, focusing on early stage tech and life science companies with international potential. Industrifonden is an active partner to companies with ground-breaking ideas and capacity to grow. Industrifonden is an evergreen fund with SEK 4 billion ($500 m) in assets. More info: www.industrifonden.com.
