Link Labs raises $5.7 million to grow ‘the IoT’

Investors are backing Annapolis startup Link Labs with a $5.7 million round of venture capital to help it compete in a young but growing market for attaching wireless sensors to everything from fuel tanks to air conditioners to soil beds, an industry known as “the Internet of things.”

Sourced through Scoop.it from: www.baltimoresun.com

Investors are backing Annapolis startup Link Labs with a $5.7 million round of venture capital to help it compete in a young but growing market for attaching wireless sensors to everything from fuel tanks to air conditioners to soil beds, an industry known as “the Internet of things.”  Link Labs is targeting business customers who it says are looking for ways to wirelessly monitor things like fuel levels, energy usage and environmental conditions and to automate responses. The number of Internet-connected devices is expected to continue to grow rapidly in the coming years.   –  “Fortune 500 companies have been looking for this and have been ready for this,” said Christopher College, managing partner at TCP Capital Ventures, one of Links Labs’ new investors. “They just have never had the technology to be able to do it.”  Link Labs is one of the few entrepreneurial ventures to sprout from the Johns Hopkins Applied Physics Laboratory in Laurel, better known for its government contracting work.    Its technology would serve the continuing push to use wireless technology to improve efficiency, cut labor costs and, in some cases, to help other companies sell more products. It places wireless sensors on a variety of devices or even just passive surfaces and allows for two-way communication, not just monitoring.

See on Scoop.itInternet of Things – Company and Research Focus

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