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TMT Investments injects $250k into ‘internet of everything’ startup Weaved

0 22 June 2014

TMT Investments has invested in Weaved, a startup which develops security software for devices connected to the Internet of Everything. The investment totals $250,000, or 2.69% of Weaved’s share capital. 

Weaved’s mission is “to become the ‘DNS’ for the Internet of Everything”. To that end, it is developing software and services that allow devices to be securely connected via the web. The company has already helped Philips, Lorex and Astak develop wifi cameras, and partnered with Cisco to produce a networked attached storage system. 

The project has previously raised $1.8 million from CrunchFund, Core Ventures Group, Zenshin Capital and Big Basin Partners.

Artem Inyutin, head of investment at TMT Investments said:

 “This is our first investment in the Internet of Things. We believe that it is a very promising sector in the US, and this team has a lot of experience and knowhow.”

In April of this year it was announced that Weaved had received investment from the Russian venture fund Maxfield Capital (previous investors in Parallels, Jelastic, Qbaka, Drchrono). The value of this investment was not disclosed.

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