Weeve Closes €2.3M Pre-Series A Funding Round

• IoT specialist weeve receives 2.3 million euros from investors
• Another 790,000 Euros from an innovation grant from Investitionsbank Berlin's ProFIT program
• Integration platform for data to business as a driver of the machine economy enters into distribution and partnership agreements to strengthen ecosystem

Berlin, March 7, 2022 – The Berlin-based venture studio Next Big Thing AG (NBT) announces the successful closing of the latest pre-series A investment round of its portfolio start-up weeve: A total of € 2.3 million was raised from existing and new investors. The round was led by Munjinzo Labs. This was supplemented by a further € 790,000 from an innovation grant from the ProFIT program of Investitionsbank Berlin (IBB).

Weeve securely extracts data from IoT-based solutions and processes it further. As an integration platform, weeve offers data to businesses as a service. Thus, the company bridges the gap between the complexity of the Internet of Things (IoT) and the requirements of data-driven business systems. The user-centric platform is key to optimizing business processes, reducing costs, improving decisionmaking and creating new revenue streams. In this way, the company acts as a driver of the Machine Economy.

"We are pleased that weeve has successfully completed its pre-series A investment round. Remote access became a new trend during the pandemic, including for people managing OT networks and assets. But this networking increases the level of threat that unsecured edge devices can pose. The investment shows that the market has recognized the benefit of the weeve
solution for the Machine Economy and wants to further promote and develop it in the future. Strategic partnerships with other companies underline this," says Harald Zapp, founder and CEO of NBT.

Weeve recently signed distribution and partnership agreements with melita.io, Sinfosy and secunet. Melita.io is an IoT network service provider offering Germany-wide connectivity based on LoRaWAN and SIM as a carrier grade service. Under this partnership, weeve and melita.io combine their offerings. In doing so, they open the way for companies to easily develop and deploy their IoT solutions based on LoRaWAN technology. Weeve also has another partnership with SINFOSY. The company offers cost-effective, standard hardware-based system solutions for the digital monitoring of production machinery and logistics processes. Together with SINFOSY, weeve develops innovative solutions for process optimization in the manufacturing industry and digital transformation. With secunet, weeve has a provider of edge hardware and IT security for infrastructures at its side. The two companies are now working together to develop end-to-end IoT solutions that enable companies to generate added value from their networked assets through data-driven services. The goal is to promote a product combination for secure edge computing with low code programming based on ready-to-use IoT modules.

Founded in 2016 in Berlin, Next Big Thing AG (NBT) is a venture studio for the Machine Economy that co-founds deep-tech ventures with aspiring founders to deliver real-world impact. With its comprehensive portfolio of startups in IoT, AI, and DLT, NBT provides long-term support for B2B companies, including the full range of development toolkits, innovation strategies, mentoring for entrepreneurs and startups, as well as technical expertise and smart financing to future-proof Germany's position as an innovation location in Europe.