$3m funding for IoT start-up
Resin.io, a software infrastructure company set up by former Surrey PhD student Alexandros Marinos, has received major funding from US investors.
Launched in 2013, the company provides infrastructure for headless devices, aiming to simplify the deployment of code on connected devices across sectors including the home, manufacturing and logistics, and retail.
This technology underpins the Internet of Things (IoT) – the emerging technology by which many objects, as well as people, are connected. The Internet of Things is set to revolutionise the way we live, with an estimated 50 billion devices connected to the internet by 2020.
Resin.io, which has an office in the Surrey Research Park, builds on the research Alexandros conducted at Surrey as a PhD student and subsequently Research Assistant, which focused on Generative Information Systems and looked at how ecosystems can form around distributed infrastructure. Resin.io uses a more developed version of the paradigm for rule-based information systems developed by Alexandros during his time in Surrey’s Department of Computing.
The company recently received $3m Series A funding led by Californian venture capital firm Draper Fisher Jurvetson with other US investors.
Alexandros said, “The funding we have won will help us flesh out our vision for code deployment in the Internet of Things, expand our team, and grow our commercial prospects. We’re happy to have found partners that understand the vision of Resin.io, and are fully on board with us charting an ambitious path.
“The Internet of Things is the completion of the internet revolution. We’re still learning how to wield it, and reaping the benefits, but when we fully realise its promise, it will make everyday life almost unrecognisable, removing physical constraints, and improving the standards of living for every human alive.”
Professor Paul Krause, who supervised Alexandros during his PhD, said, “This is a great achievement. Alex has taken some strong theoretical ideas from his PhD through a period as a Research Assistant and then developed them into a very successful business concept. My research group’s long term goal has been to change the economics of software system development, and Resin.io now provides us with firm evidence that we are indeed able to achieve this.”
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