Scottish Equity Partners gives 'significant' backing to Glasgow connectivity business

A Glasgow-headquartered connectivity business has secured “significant” equity funding as it looks to push into new markets.

Pelion will use the funding from Scottish Equity Partners (SEP) to invest further in product development, sales and customer support. The firm has developed a global management platform enabling customers to connect devices to applications using cellular connectivity. Its 500 customers span a wide range of sectors, including industrials, utilities, transport and logistics, and healthcare. Areas supported by the platform include infrastructure monitoring, connected industrial equipment, vehicle telematics, remote building access and patient monitoring.

David Weidner, chief executive of Pelion, which was founded in 2000, said: “This investment sets us up well to accelerate our growth as an independent business. Pelion is at the forefront of the Internet of Things (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.”

Tim Ankers of SEP added: “We are excited to partner with Pelion. It has built a leading connectivity management platform addressing a multi-billion-dollar market opportunity, and the number of cellular connected devices is forecast to grow exponentially. Pelion’s platform simplifies the complex ecosystem for enterprise customers and, with its strong reputation for technical excellence and customer support, we believe it is well placed to benefit from this trend.”