TGFS Tech­nolo­giegrün­der­fonds Sach­sen and bm|t beteili­gungs­man­age­ment thürin­gen (bm|t) are invest­ing a seven-fig­ure sum in Pee­riot GmbH in a seed financ­ing round. The aim is to fun­da­men­tally sim­plify IoT net­work­ing and enable inno­v­a­tive appli­ca­tions for intel­li­gent IoT devices that work together in a swarm.

TGFS Tech­nolo­giegrün­der­fonds Sach­sen and bm|t have invested a seven-fig­ure sum in the Saxon-Thuringian deep-tech soft­ware start-up Pee­riot GmbH as part of seed financ­ing. The invest­ment is addi­tion­ally sup­ported by exist­ing investors Thomas Schmidt/be-expo­nen­tial GmbH and Dr. Markus Eisel and is intended to drive the devel­op­ment of inno­v­a­tive solu­tions in the field of IoT networking.

Pee­riot has set itself the task of sim­pli­fy­ing the net­work­ing of IoT devices and thus sig­nif­i­cantly reduc­ing com­plex­ity and costs. Suc­cess in the IoT sec­tor depends heav­ily on the abil­ity to estab­lish effec­tive net­works. This is where Pee­riot comes in: Up to now, net­work­ing has required a high degree of man­ual work. Pee­riot is devel­op­ing mid­dle­ware that enables IoT devices to exchange their data in a self-orga­nized man­ner. This cre­ates intel­li­gent swarms of devices that work col­lab­o­ra­tively and can effi­ciently solve com­plex tasks together.

“Our vision is to democ­ra­tize IoT through decen­tral­iza­tion and self-orga­ni­za­tion,” explains Pee­riot founder Roy Kaiser. “With our mid­dle­ware, we are offer­ing a new cat­e­gory of infra­struc­ture soft­ware for B2B cus­tomers in the IoT sec­tor that enables self-orga­nized IoT.”

Peeriot’s ver­sa­tile soft­ware can be used for all types of IoT devices and will be sold via a sub­scrip­tion model in which cus­tomers pay per device used per year. Their poten­tial appli­ca­tions are wide-rang­ing and include Indus­trial IoT, Smart City and Smart Infra­struc­ture. This enables com­pa­nies and munic­i­pal­i­ties to design their IoT solu­tions more effi­ciently and imple­ment inno­v­a­tive appli­ca­tions in var­i­ous areas.

With the new fund­ing, Pee­riot plans to sig­nif­i­cantly expand its team of soft­ware devel­op­ers, drive for­ward soft­ware devel­op­ment and suc­cess­fully imple­ment ini­tial pilot projects. “We are delighted with the trust and sup­port we have received from TGFS, bm|t and our exist­ing investors,” says Kaiser. “With this cap­i­tal, we are ide­ally equipped to turn our vision into real­ity and change the IoT world for good.” “With its con­sis­tent focus on the devel­op­ment of decen­tral­ized IoT net­works and self-orga­niz­ing tech­nolo­gies, Pee­riot has the poten­tial to sig­nif­i­cantly influ­ence the global IoT mar­ket,” says TGFS Man­ag­ing Direc­tor Sören Schus­ter about the cur­rent trans­ac­tion. “The progress already made demon­strates the inno­v­a­tive strength and scal­a­bil­ity of the solu­tion. We look for­ward to sup­port­ing the highly qual­i­fied Pee­riot team in the suc­cess­ful imple­men­ta­tion of this vision.”

About the TGFS

TGFS Tech­nolo­giegrün­der­fonds Sach­sen pro­vides equity cap­i­tal to tech­nol­ogy-ori­ented founders for the seed and start-up phase. The fund was first launched in 2008 by the Free State of Sax­ony (includ­ing ERDF fund­ing) and Saxon finan­cial insti­tu­tions and has since sup­ported over 100 start-ups. In 2023, the TGFS started its third fund gen­er­a­tion. The TGFS focuses on young, inno­v­a­tive, tech­nol­ogy-ori­ented com­pa­nies that belong to the ITC, semi­con­duc­tor and microsys­tems tech­nol­ogy, med­ical tech­nol­ogy, life sci­ence, envi­ron­men­tal and energy tech­nol­ogy and new media sec­tors and have their head­quar­ters or busi­ness premises in Saxony.
Sören Schus­ter (Man­ag­ing Direc­tor TGFS) | +49 172 2001097 | soeren.schuster@tgfs.de | www.tgfs.de

About the bm|t

Based in Erfurt, bm|t is a sub­sidiary of Thüringer Auf­baubank and the lead­ing address for ven­ture cap­i­tal and risk cap­i­tal financ­ing in Thuringia. bm|t cur­rently man­ages twelve funds with a total vol­ume of around EUR 445 mil­lion, which invest in inno­v­a­tive com­pa­nies in almost all sec­tors and in all phases of cor­po­rate devel­op­ment — both in the start-up and growth phases — or in com­pany suc­ces­sion situations.
Stephan Beier (Senior Invest­ment Man­ager) stephan.beier@bm‑t.de | www.bm‑t.de

About be-exponential

be-expo­nen­tial GmbH invests in promis­ing start-ups with a focus on B2B, Smart Mobil­ity Solu­tions, EV & Green-Energy, Soft­ware-as-a-Ser­vice (SaaS) and other high-tech products/solutions. The focus is on the founders them­selves and the poten­tial of the under­ly­ing busi­ness model for scal­able expo­nen­tial growth, sus­tain­abil­ity and an expand­able inter­na­tion­al­ity of the start-up. The invest­ment com­pany be-expo­nen­tial was founded by Thomas Schmidt at the begin­ning of 2021 to actively accom­pany and sup­port the grow­ing and high-per­form­ing start-up land­scape in Ger­many and Europe.
Thomas Schmidt (Man­ag­ing Direc­tor) mail@be-exponential.com | www.be-exponential.com

About Peeriot

Pee­riot GmbH was founded in 2022 and devel­ops inno­v­a­tive solu­tions for net­work­ing IoT devices. Pee­riot enables IoT devices to join together in a self-orga­nized way and work col­lab­o­ra­tively on tasks in a swarm. Pee­riot is thus uti­liz­ing the full poten­tial of IoT and ush­er­ing in a new era of intel­li­gent networking.
Roy Kaiser (Man­ag­ing Direc­tor) roy.kaiser@peeriot.io | www.peeriot.io