Breed Reply: A New Incubator for European Internet of Things Startups
Reply, who specialises in the design and implementation of solutions based on new communication channels and digital media, announced Breed Reply, a new Reply incubator for funding, accelerating and supporting the growth and establishment of ideas and start-ups around the Internet of Things (IoT) across Europe and the USA.
Breed Reply, based in London and with offices in Italy and Germany, offers three fundamental services: funding at “seed” and “early stage” level; support with know how transfer of business, managerial and technological expertise; and, thanks to Reply’s ecosystem, medium-term involvement to establish start-ups in their market.
Breed Reply has already been active in setting up a growth project with Xmetrics, a company that offers an innovative device for swimmers. Xmetrics uses sensors, electronic components and software via mobile devices, to enhance the training sessions of professional and amateur swimmers, analysing their main biometric parameters and their real time performance . Breed Reply has signed a “term sheet” for an investment of £675,000 for 30% of XMetrics.
Reply first made an investment in this sector in July 2014, when it acquired 20% of the capital of the US based Sensoria.
Between now and 14th November 2014, Breed Reply will offer start-ups the opportunity to present their ideas and projects through IoT Best in Breed, an initiative that aims to identify the most innovative ideas in the IoT space.