- Mesh networking provider company HypeLabs announced it raised $3 million in a seed round of funding led by innogy Innovation Hub
HypeLabs, a mesh networking provider company, announced that it has raised $3 million in a seed round of funding led by innogy Innovation Hub. EDP Ventures, Deutsche Telekom, AngelPad, Caixa Capital, NovaBase Capital, and Mustard Seed also joined the round. This round of funding will be used for strengthening its team and supporting international growth.
Launched in 2016 in Porto, Portugal, HypeLabs is an alumnus of AngelPad batch#10 and Deutsche Telekom WARP ’15.. The company essentially enables internet-free communication via mesh networking through its Hype SDK (Software Development Kit). And the SDK connects devices to create local mesh networks that work across any operating system and transport channel using existing connectivity technologies like Bluetooth and Wi-Fi, enabling content to hop between devices until it reaches a destination or an internet exit point in a secure manner.
“In a world where we see more connected and smarter devices in our daily lives, new connectivity paradigms need to emerge. Our goal is to simply connect every device even in situations where they couldn’t before, by building networks that self-configure, self-heal, self-optimise and self-protect. It’s time to bring intelligence to the networking stack, and this new partnership with, and investment from, innogy will allow us to keep growing internationally, as well as focus on one key market – the energy utility one,” said Carlos Lei Santos, CEO of HypeLabs.
HypeLabs launched with the belief that connectivity matters. And the idea for the company was inspired by the observation there was a huge gap between the way people connect and access information across developed and developing countries. HypeLabs believes connectivity is a human right as an enabler of growth and a tool to learn. And it is an equalizer of opportunities.
“What makes HypeLabs special is that they don’t rely on specific hardware or specific radio channels to manage the network. It has a huge number of use cases, adding another layer of connectivity for connected devices that can be implemented simply on the application layer. We are particularly excited about the role of this technology within the decentralized IoT-based energy system where smart homes will require smart, resilient and reliable connectivity,” added Kerstin Eichmann, Strategy Lead of Machine Economy at innogy Innovation Hub.