General Atlantic has acquired a minority stake in the Internet of Things provider via its climate growth equity fund, with Montagu remaining the majority shareholder.
"Wireless Logic, Montagu and General Atlantic share a collective ambition to reinforce Wireless Logic’s market leadership and mission to simplify and automate IoT connectivity and management for customers globally, as well as create value for investors and establish a great place to work. I look forward to the next phase of our growth journey."
The round was led by Archangels, Par Equity, and Scottish Enterprise to accelerate product development and international growth.
"This investment reflects the growing recognition of the critical need for innovative communication solutions in the underwater IoT sector. The support from our investors will allow us to scale our operations, enhance our product offerings and help industries worldwide manage their resources more effectively. We are grateful for their trust and excited to shape the future of underwater communication."
The fresh capital from Maven Cognition will support the international expansion of PervasID and its TrackMaster system.
"The growth we’ve experienced in recent years is a testament to our market-leading innovation. Our 2024 investment round, which secured over £3 million, is already taking the business to the next level as we continue with the global rollout of TrackMaster. We’ll be using this latest investment to continue our growth plans and to maximise the opportunities in the UK and US where we are seeing fast-paced adoption of TrackMaster."
The investment was backed by the GMC Life Sciences Fund By Praetura and NPIF II, Praetura Equity Finance.
"We’re building a future where everyone has the tools and confidence to take control of their health — wherever they are. This funding allows us to scale our digital platform, extend our reach into new communities, and strengthen our collaborations and integrations across employer, public health and primary care. Prevention has to be proactive, accessible and data-informed — and that’s exactly what SiSU Health delivers."
