Momenta Ventures invests in Akua - End-to-End, Secure, IoT supply chain logistics
ZURICH and SAN FRANCISCO, Jan. 16, 2020 /PRNewswire-PRWeb/ -- Momenta Ventures is pleased to announce its recent investment in Akua. Akua provides supply chain logistics services through its Software-as-a-Service platform that transforms IoT sensor data into actionable logistics intelligence. The company has gained significant customer traction in US Government logistics, heavy machinery, high consequence merchandise and cold chain tracking spaces and in emerging use cases. Led by industry veteran CEO Neil Furukawa, Akua has offices in San Francisco and Baltimore.
Akua's Secure Logistics Master (SLM) gateway device combines an electronic high security seal and multiple IoT protocols including Low Power Wide Area Networks (LPWAN). The SLM gateway enables customers to track shipments and monitor all assets contained in that shipment such as temperature sensors in refrigerated containers. The SLM sends that data to the cloud, enabling operational efficiency and real-time valuable cargo status and location.
Marc Pegulu, Vice President, Wireless LoRa and IoT at Semtech, commented: "Asset tracking is a key vertical in the IoT industry. LoRa with its long range, and flexible and scalable capabilities, is an ideal solution for this market to provide real-time asset tracking."
According to Ken Forster, Momenta Ventures' Managing Director: "We see Akua as a critical provider of in-transit location and condition monitoring, one of the highest value use cases in mobile asset tracking. This is a sweet spot for LoRa-enabled sensor capabilities by providing long-range, low-power, real-time connectivity throughout the supply chain. Akua is the first of several investments we are driving to fully unleash the value of LoRa in the supply chain".
According to Akua CEO Neil Furukawa: "We are happy to have Momenta Ventures on-board. Their deep industry knowledge in Digital Industry and their commitment to LPWAN is unique. Momenta's investment in Akua is an exciting next step in our journey to bring greater transparency to shipping".
About Akua
AKUA is a subscription data service and IoT sensor platform providing persistent environmental monitoring, electronic security seal, and GPS tracking solutions for intermodal containers to enable end to end, first to last mile in-transit supply chain visibility for shipments across the globe. Through AKUA, beneficial cargo owners enhance operating effectiveness and efficiency, minimize loss from theft, damage, or other spoilage, and optimize the value of goods through predictive analytics-based decision-making. Learn more at http://www.akua-inc.com
About Momenta Ventures
Momenta Ventures is the investment arm of Momenta Partners, the leading Digital Industry Growth Partner firm. Led by deep industry practitioners with strong entrepreneurial and corporate pedigree, Momenta Ventures has made over 30 investments, with notable exits to SAP, PTC, and Husqvarna Group. Momenta Ventures operates two Digital Industry funds, focused on seed and Series A investments in Digital Energy, Manufacturing, Smart Spaces, and Supply Chain. For more information, please visit https://momenta.vc.
SOURCE Momenta Ventures