A Glasgow company specialising in satellite communications is looking to raise further funding following the launch of its flagship product to provide digital connectivity to remote and rural locations.
To mark the introduction of its new offering, the company formerly known as R3-IoT has re-named itself after its Krucial Connect product. The platform brings together IoT devices such as sensors with a combination of satellite and cellular technology to securely transmit data from infrastructure and buildings in hard-to-reach sites.
Chief executive and co-founder Allan Cannon said Krucial is in early discussions with potential investors to boost the roll-out into global industries such as the utility, energy, infrastructure and transport industries. This would follow on last year’s £3.1 million fundraising led by US-based Space Capital.
READ MORE: Glasgow space technology start-up secures expansion funding
“Although business may be global, infrastructure is still not,” he said. “Digital transformation can unlock significant savings and improve sustainability, but that’s completely dependent on resilient, reliable connectivity.
“Our work will be critical in ensuring decision-makers have access to their data anytime, anywhere, and the launch of our new brand represents how important that is for businesses and organisations.”
Now employing 30 people, Krucial was set up in 2018 by Mr Cannon and Kevin Quillien, who previously worked together at Clyde Space.
READ MORE: Glasgow satellite firm R3-IoT leads fish farm early warning system move
Earlier this year the company launched a version of its technology tailored specifically to the needs of aquaculture industry which provides an early warning system for problems on fish farms. Its new application programming interface model is different in that users from various industries can customise it to suit their specific requirements, which Mr Cannon said should significantly speed up access to market.
“As we take our next steps at Krucial, we’re confident of significant growth across international markets in the coming months which will act as the basis for further expansion, innovation and development,” he added.
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