Scottish Equity Partners Invests in IoT Leader Pelion
Scottish Equity Partners has recently finalized a notable growth equity investment in Pelion, a distinguished global player in the Internet of Things (IoT) connectivity sector, which is proudly headquartered in the vibrant city of Glasgow. This significant funding will empower Pelion to thrive independently and provide the necessary resources for further investment in critical areas such as product development, sales enhancements, and customer support initiatives. This investment not only underscores the confidence that investors place in Pelion’s vision but also highlights the growing importance of IoT connectivity in today’s digital landscape.
Pelion has established itself by developing a cutting-edge global connectivity management platform that enables enterprise clients to seamlessly connect numerous end devices to various applications through robust cellular connectivity.
Currently, Pelion serves approximately 500 customers across a diverse array of sectors, including industries such as industrials, utilities, transport and logistics, as well as healthcare. The applications supported by the Pelion platform are vast and varied, ranging from infrastructure monitoring, connected industrial machinery, and vehicle telematics to remote building access and patient monitoring solutions. This versatility showcases the platform's adaptability to meet the unique demands of its clientele.
As a technology-driven company, Pelion has already made considerable investments in enhancing its connectivity management platform, ensuring secure end-to-end network functionality, and developing a global eSIM offering. With the infusion of funds from Scottish Equity Partners, Pelion intends to accelerate its development efforts to maintain its technical leadership while simultaneously boosting vital commercial functions to sustain its business momentum. David Weidner, the CEO of Pelion, expressed his enthusiasm about this strategic investment, stating, "This investment sets us well to accelerate our growth as an independent business." Tim Ankers from SEP shared his excitement about partnering with Pelion, acknowledging the company's position in a multi-billion-dollar market opportunity. With such strong backing, Pelion is poised to navigate the rapidly evolving IoT market that promises extensive growth in the coming years.
They've invested in Pelion
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