Sensolus secures €3.5 million from btov Partners, Annie Vereecken, Capricorn ICT Arkiv and Quest for Growth.

Sensolus, a Gent, Belgium-based IoT manufacturer of asset tracking solutions for logistics and supply chain companies, announced that it completed a €3.5 million ($4.1M) capital investment round.

The money was raised from investors led by btov Partners’ Industrial Technologies Fund in addition to the existing ones Annie Vereecken, Capricorn ICT Arkiv and Quest for Growth.

The capital is raised to accelerate Sensolus’ growth in its existing market segment and to open up new segments in Europe and US. Moreover, the company will expand its solution to connect more types of assets which are omnipresent in the global supply chain.

Sensolus, founded in 2013 by CEO Kristoff Van Rattinghe, provides a cost-effective end-to-end IoT solution to track transport carriers assets (i.e. pallets, boxes, containers, returnable transport packaging and trailers) in real-time and optimize the underlying process flows. The solution consists of wireless trackers that are installed as simply as a sticker and which generate supply chain metrics, to alert on anomalies and to detect patterns which can lead to actionable insights for optimizing processes.

Sensolus customers include Airbus, Volvo, AB InBev, SUEZ and T.C.R.