Weaved has received $250,000 in funding from TMT Investments. Based in Palo Alto, Calif., Weaved is a provider of solutions that connect devices across the internet.
TMT Investments PLC, which invests in high-growth, internet-based companies across a variety of sectors, is pleased to announce the completion of an investment in Weaved, Inc. (www.weaved.com).
Incorporated in Delaware and based in Palo Alto, Weaved, Inc. (“Weaved”) was founded by a group of serial entrepreneurs, with deep experience in TCP/IP networking and cloud services. Weaved provides the software and services necessary to securely connect devices across the Internet with the mission of becoming the DNS (domain name system) for “the Internet of Everything”. Weaved’s products and services are already used by such big brands as Cisco, Philips and Astak, with Weaved-enabled devices available in mass retail.
Ubiquitous mobile Internet connectivity is driving the mass adoption of the much-anticipated “Internet of Things”. Gartner predicts that this market will add US$1.9 trillion to the global economy by 2020, to include increased functionality and interactions across various brands and sectors, such as connected home, healthcare, education, automotive and enterprise.
TMT has acquired ordinary shares representing 2.69% of Weaved’s fully diluted equity capital, for an aggregate consideration of US$250,000.
Weaved was co-founded by Ryo Koyama and Mike Johnson. The duo previously co-founded iReady, which was later sold to NVIDIA. iReady was the world leader in hardware TCP/IP, and its technology was used to connect thousands of different products to the Internet. Ryo holds seven US patents in the areas of multimedia and networking, and was awarded a Bachelor of Science in Mechanical Engineering from San Jose State University. Mike is a recognised leader in communication and protocol processing and has been awarded multiple patents in this area. Mike has a Bachelor of Science degree in Computer Science from the California State University at Chico.
Definitive agreements for the transaction were entered into, and the transaction was completed, on 13 June 2014.
For further information contact:
TMT Investments Plc
About TMT Investments
TMT Investments PLC invests in high-growth, internet-based companies across a variety of sectors and has a significant number of Silicon Valley investments in its portfolio. Founded in 2010, TMT has raised USD28m and invested in over 30 companies to date. The company’s objective is to generate an attractive rate of return for shareholders, predominantly through capital appreciation. The company is traded on the AIM market of the London Stock Exchange. www.tmtinvestments.com