Leading provider of connectivity to the Internet of Things
Perwyn backed Velos IoT, a leading provider of connectivity to the Internet of Things, was launched this morning. Velos combines the businesses of Jersey based JT IoT, Estonia’s Top Connect, and Danish NextM2M, into a global powerhouse providing connectivity to over 12m cellular devices around the world.
With a heritage dating back to 2014, when JT IoT was formed in Jersey as a division of Jersey Telecom, the Velos IoT group has built a reputation as a fast growing and leading supplier of global Internet of Things connectivity. In summer 2021 JT IoT was acquired by Perwyn. Subsequently, Velos IoT has acquired two further successful IoT businesses – NextM2M and Top Connect. By extending its product portfolio and range of customers, these acquisitions have led in turn to further success.
Supported by a team of over 120 people in over a dozen countries, the Velos mission is more than just IoT connectivity – the business enables a smart, connected, and sustainable world. The new group name reflects a renewed focus on agility and the impact that Velos makes with its IoT solutions.
Graeme Millar, CEO of JT IoT said: “We are incredibly proud of the work that we do and thankful to the customers, employees, partners, and suppliers that are accompanying us as we grow our network of connected devices that, in turn, are building a more sustainable future for us all. We feel strongly about the impact we want our products and services to make, and it was time to create a brand that reflects our core values.
“It is an exciting time for our company, and I promise all our stakeholders a continued positive journey with us.”
Mark Blower, Partner at Perwyn, added: “We are delighted by the speed at which Velos has scaled, both organically and inorganically, since we supported Graeme and the team with the carve-out from Jersey Telecom. We very proud to be backers of Velos IoT, which provides businesses around the world with scalable and reliable IoT connectivity. We look forward to further strengthening the business, which is already a leading innovator, and to further international growth.”