Pelion secures £29.2m in Series B funding from Scottish Equity Partners to support independent growth
Scottish Equity Partners backed the Glasgow based Internet of Things connectivity business to fund product development and sales expansion.
Pelion operates a global Internet of Things connectivity business providing a management platform for enterprise customers. Headquartered in Glasgow, the company enables devices to connect to applications through cellular networks.
Pelion has secured £29.2m in a Series B investment round from Scottish Equity Partners to support its independence and future expansion. The capital will be deployed toward product development, sales growth, and enhanced customer support.
The Glasgow based Internet of Things connectivity specialist serves approximately 500 enterprise customers across sectors such as industrials, transport, utilities, and healthcare. Its platform facilitates various applications including infrastructure monitoring, vehicle telematics, and patient care.
With the backing of Scottish Equity Partners, the firm intends to build upon its existing technology infrastructure, global eSIM offering, and secure network capabilities. Management aims to maintain its competitive position as market demand for cellular connected devices continues to expand.
From the founder
"This investment sets us well to accelerate our growth as an independent business. Pelion is at the forefront of the IoT connectivity market, serving a multitude of customer use cases around the globe, and we are excited to be embarking upon the next stage of our journey. The investments made into our technology and products over the past five years make us an ideal partner for any enterprise seeking to utilise IoT to drive their business outcomes."
David Weidner
CEO at Pelion
Investor perspective
"We are excited to partner with Pelion."
Tim Ankers
Director, Scottish Equity Partners
Use of funds
- 01Continue product development
- 02Invest in sales and marketing
