News
13/12/2019
PySENSE in the PGE Ventures’ portfolio
PGE Ventures Fund which invests in the best start-ups in the energy sector and industry 4.0, has recently completed the investment in PySENSE - one of the most dynamically developing startups in the area of ICT technologies for the energy sector.
PySENSE is well known in the energy sector. The company provides autonomous communication devices designed for automatic meter reading. The company participates in projects carried out by large operators and co-creates IoT laboratories for the latest ICT technologies used in the power industry.
Pilot implementation of the LTE450 network for PGE
Due to the know-how and core competencies, PySENSE was invited by PGE Systemy to jointly pilot the implementation of a special power network based on the LTE450 technology. The startup has delivered communication devices dedicated for this project and actively participated in technology tests.
The LTE450 technology for the power industry which is being launched in Poland places us among the European leaders in an intelligent, wireless solutions not only for the needs of dispatching communications, but also for network automation. This technology can help in integrating renewable energy sources with the power system. It is also an opportunity to develop a national ecosystem of companies offering technologically advanced solutions for the energy sector. PySENSE engagement and creative solutions helped us several times to efficiently solve problems typical for pioneering projects – said Michał Kot, Vice-President of the Management Board of PGE Systemy, supervising the Office of Innovation and Digitization.
From the very beginning of our activity, we execute projects in line with our partners expectations. We implement solutions for the latest communication technologies, such as LTE-M, LTE450, Narrow Band IoT, LWm2m, or eUICC, cooperating with leaders setting trends on the ICT market. The implementation of our strategy has resulted in the investment agreement signed with FIZAN PGE Ventures – said Artur Wróbel, CEO of PySENSE.
Investment of PGE Ventures fund
PySENSE is another high-tech startup that joins the investment portfolio managed by PGE Ventures. The company cooperates with the PGE Group in the field of pilot implementation of the LTE450 network for the power industry.
The combination of capital and pilotage opportunity is the value of our smart money that we want to give PySENSE. We hope that our funds will help the company to develop its products and increase their sales on the Polish and foreign markets. We also see synergy in cooperation with PySENSE, which should significantly increase the success rate of this startup, but also help the PGE Group to implement cutting-edge solutions in the field of energy and communication – said Piotr Czak, CEO of PGE Ventures.
PGE Ventures’ funds will be spend on the further dynamic development of PySENSE, including the launch of new sales channels in Poland and EU countries.