PORTO, Portugal--(BUSINESS WIRE)--HypeLabs, the leading software-only mesh networking provider, announced today a $3 million seed round led by innogy Innovation Hub. Other investors in the round include EDP Ventures, Deutsche Telekom, AngelPad, Caixa Capital, NovaBase Capital and Mustard Seed.
The company, which was founded in 2016 in Porto, Portugal, and is an alumnus of AngelPad batch#10, enables internet-free communication via mesh networking through its Hype SDK (Software Development Kit). The SDK connects devices to create local mesh networks that work across any operating system and transport channel using existing connectivity technologies such as Bluetooth and Wi-Fi, enabling content to securely hop between devices until it reaches a destination or an internet exit point.
HypeLabs will use the new funding to strengthen its team and support international growth.
“What makes HypeLabs special is that they don’t rely on specific hardware or specific radio channels to manage the network. It has a huge number of use cases, adding another layer of connectivity for connected devices that can be implemented simply on the application layer. We are particularly excited about the role of this technology within the decentralised IoT-based energy system where smart homes will require smart, resilient and reliable connectivity,” said Kerstin Eichmann, Strategy Lead, Machine Economy at innogy Innovation Hub.
“In a world where we see more connected and smarter devices in our daily lives, new connectivity paradigms need to emerge. Our goal is to simply connect every device even in situations where they couldn’t before, by building networks that self-configure, self-heal, self-optimise and self-protect. It’s time to bring intelligence to the networking stack, and this new partnership with, and investment from, innogy will allow us to keep growing internationally, as well as focus on one key market – the energy utility one,” said Carlos Lei, CEO, HypeLabs.
HypeLabs was founded on the belief that connectivity matters. It was founded after observing there was a huge gap between the way people connect and access information across developed and developing countries. HypeLabs believes in connectivity as a human right, as an enabler of growth and a tool to learn. It’s an equalizer of opportunities.
Today the company is on a mission to expand connectivity. HypeLabs believes in great software as a solution to make tomorrow’s connections more reliable, secure, affordable, and interoperable, and that new paradigms in connectivity are key in achieving a brighter, more connected, future.
In order to achieve such vision, HypeLabs created the Hype SDK, an interoperable mesh networking software that improves connectivity on all kinds of devices, from mobile to desktop to IoT, allowing such to connect even when there is no internet. The software works by intelligently connecting devices in local mesh networks using existing connectivity technologies, such as Bluetooth, WiFi, LoRa and others. This network enables content to securely hop between devices, until it reaches a destination or an Internet exit point, improving range and deliverability.
Founded in 2016, the company is located in San Francisco (USA) and Porto (Portugal). HypeLabs is an alumnus of AngelPad #10 (Spring '16) and Deutsche Telekom WARP '15.
For more information please visit www.HypeLabs.io
About innogy Innovation Hub
innogy Innovation Hub believes that new technologies, business models and consumption patterns will redefine the energy market of the future. We believe this future will be driven by four core global trends; decarbonisation, decentralisation, digitisation and democratisation. innogy Innovation Hub’s mission is to drive this vision for the future of energy by being a sector disruptor: by identifying the game-changing technologies, ideas, individuals and businesses that will help build that future, wherever they are, providing funding, mentoring and a platform for co-creation, collaboration and convergence.
The innogy Innovation Hub has created a €162m portfolio (as of December 2018) through investing in disruptive individuals, start-ups and early stage businesses, and has provided opportunities for nearly 90 start-up and scale-up companies to collaborate. It is headquartered in Berlin, with teams across Europe including in London, Warsaw and Essen, as well as offices in California (Palo Alto) and Israel (Tel Aviv).
The innogy Innovation Hub is funded by innogy SE, a leading German energy company, with revenues of around 37 billion euros (2018), around 43,000 employees as well as activities in 16 European countries and in new markets such as Australia, Canada and the USA. For more information visit: https://innovationhub.innogy.com