TGFS and bm|t invest seven-figure amount in Peeriot GmbH

TGFS

3 July 2024

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

Peeriot is dedicated to simplifying the networking of IoT devices, 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: current networking processes require a high degree of manual intervention. Peeriot is developing middleware that enables IoT devices to exchange data autonomously. This creates intelligent swarms of devices that collaborate to solve complex tasks efficiently.

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

Peeriot’s versatile software can be applied to all types of IoT devices and will be offered through a subscription model, where customers pay per device per year. Its applications span a wide range of areas, including Industrial IoT, Smart Cities and Smart Infrastructure. This allows companies and municipalities to make their IoT solutions more efficient and implement innovative applications in various fields.

With the new funding, Peeriot plans to significantly expand its team of software development team, accelerate the advancement of its technology and successfully implement its first pilot projects.

“We are very pleased about the trust and support from TGFS, bm|t and our existing investors,” says Kaiser. “This funding positions us perfectly to bring our vision to life and transform the IoT world sustainably.”
“By focusing on the development of decentralized IoT networks and self-organizing technologies, Peeriot has the potential to make a significant impact on the global IoT market,” says TGFS Managing Director Sören Schuster regarding the current transaction. “The progress already achieved demonstrates the innovation and scalability of the solution. We are delighted to support Peeriot‘s highly skilled team in successfully realizing this vision.”

Your contact person
Sören Schuster | Managing Director TGFS
M +49 172 2001097
soeren.schuster@cfh.de

TGFS deal team
Paul Michalke and Tam Dau