VANCOUVER, BC, CANADA, May 13, 2021 /EINPresswire.com/ — Tech Coast Angels (TCA) is pleased to announce an investment in SST Wireless, a leading provider of wireless, industrial condition-monitoring sensors, gateways, and cloud-based equipment monitoring & analytic services.
Based in British Columbia, Canada, SST Wireless helps customers increase safety, reduce downtime, extend machinery service life, and conserve resources such as water and energy.
For over a decade, SST has developed, manufactured, and distributed accurate and reliable wireless sensor technologies that are used by industrial customers in mining, forestry, public transportation, and utilities. The applicable use cases for SST’s technologies are very wide and commercially scalable. Customers include global brands to small business that rely on the efficient operation and maintenance of critical assets.
The investment in SST’s Series A offering will be used to reach Small to Medium (SME) sized industrial customers who represent 98% of the market but are not well serviced by existing instrumentation and automation providers. SMEs are looking for IIoT solutions that are affordable, easy to use and provide immediate data visibility. SST is launching a sales & marketing campaign to educate the market and offer an IIoT Starter Kits that include a high temperature sensor and a vibration sensor that is bundled with an LTE enable gateway that connects to the ECMDash monitoring platform. The Kit is designed to be a self serve product to help companies get started in IIoT.
According to David Friedman, TCA lead on the deal: “SST is an interesting play in the industrial IoT market. TCA invests in start-up companies in a wide range of businesses that have high growth potential. That is why we invested in SST Wireless.” CEO Christopher Chong commented: “TCA members are entrepreneurs that understand what it takes to build a successful company that makes a real difference. This investment by TCA gets SST to close to the completion of our round, but we are excited about being able to tap into the knowledge, experience, and connections of TCA members to help us execute on our strategy to deliver Industrial IoT for Everyone.”
SST engineers, manufactures and distributes industrial wireless sensor technologies and services to remove the barriers to Industrial IoT for any size of organization by delivering simple, easy to deploy sensors & gateways. The benefit to our customers is immediately evident with new insights into machine condition over time. SST is delivering on the promise of the Industrial IoT through the aggregation of machine data to shorten the time to meaningful analytics that increases safety, reduces downtime and minimize environmental impact of industry.
About Tech Coast Angels
Tech Coast Angels (TCA) is one of the largest and most active angel investor networks in the nation, and a leading source of funding for seed-stage and early-stage companies. The angel network is comprised of four chapters, consisting of over 450 members in Southern California. Every TCA member is an accredited investor, and companies in which TCA invest go through well-structured, transparent, time-efficient screening and due diligence. TCA members are founders and business leaders who have extensive knowledge in the investment process and world-class business practices, and thus are able to provide companies with more than just capital: they also contribute counsel, mentoring and access to an extensive network of investors, customers, strategic partners and management. In December 2020, TiE named Tech Coast Angels the Most Active Angel Network in the World.
Since its founding in 1997, TCA has invested over $250 million in more than 460 companies and has helped attract more than $1.7 billion in additional capital/follow-on rounds. www.techcoastangels.com.