New incubator backs IoT start-ups
Reply, a specialist in the design and implementation of solutions based on new communication channels and digital media, has launched Breed Reply, a new incubator for funding, accelerating and supporting the growth and establishment of ideas and start-ups around the Internet of Things (IoT) across Europe and the US.
Breed Reply, based in London and with offices in Italy and Germany, offers three fundamental services: funding at "seed" and "early stage" level; support with know how transfer of business, managerial and technological expertise; and, using its ecosystem, medium-term involvement to establish start-ups in their market.
Breed Reply has already been active in setting up a growth project with,Xmetrics a company that offers an innovative device for swimmers. Xmetrics uses sensors, electronic components and software via mobile devices, to enhance the training sessions of professional and amateur swimmers, analysing their main biometric parameters and their real time performance. Breed Reply has signed a "term sheet" for an investment of £675,000 for 30% of XMetrics.
This investment into Xmetrics is part of Reply's development strategy on the Internet of Things and, in particular, the wearable technologies area.
Between now and 14th November 2014, Breed Reply will offer start-ups the opportunity to present their ideas and projects through IoT Best in Breed, an initiative that aims to identify the most innovative ideas in the IoT space.
"Reply has been investing in expertise and solutions for the Internet of Things since 2009” says Mario Rizzante, Reply Chairman. “We are now witnessing a further acceleration in the fragmentation of this market, impacting all sectors and consumers’ daily life.”
"Breed Reply represents a great opportunity for start-ups” says Emanuele Angelidis, Breed Reply CEO. “Alongside the traditional financial support, it provides significant entrepreneurial and managerial expertise as well as synergies with the Reply world. We are looking for initiatives set up by talented people who are able to bring together excellence and highly innovative ideas with a large addressable market. Xmetrics is a prime example of that and we will work with them to create a successful company".
"Xmetrics intends to become a leader in the sector of wearable technologies applied to swimming”, stated Andrea Rinaldo, co-founder and CEO of Xmetrics. “The funding and expertise provided by Breed Reply allows Xmetrics to accelerate the process of technological innovation, making our vision and that of our clients become a reality."