Start-Up 1248 Gets Backing From Heavyweight
Entrepreneur Rob Dobson possesses a resume of success in backing early-stage technology ventures, and in United Kingdom based start-up 1248, www.1248.io, he believes he has another he can add to his portfolio.
Dobson sees great potential in the IoT (Internet of Things) arena by making a £1/4 million investment in 1248, which provides expertise and services to the IoT industry. In addition to making the financial investment, Dobson assumes the role of chairman for 1248.
1248 was originally co-founded by Pilgrim Beart and Toby Jaffrey last year, both of which have relevant experience in starting connected-technology products such as activeRF, AlertMe, Amino, Polatis, just to name a few.
Moving forward, 1248 will work with companies by connecting their products to the Internet and providing off-the-shelf service components that hasten building an IoT platform. This most likely will put them in competition with the likes of such companies as Xively, www.xively.com and ThingWorx, www.thingworx.com, which was recently acquired by PTC. It will be interesting to see how this startup differentiates itself compared to the aforementioned companies that have been servicing various verticals for the past several years.
Currently, 1248 is creating an open standard to allow IoT applications and services to work together as part of a project funded by the U.K. government’s Technology Strategy Board. The U.K.’s tech industry recently received a boost from Prime Minister David Cameron, who has pledged more than £45m to help companies develop IoT technology.
1248 was born out of the University of Cambridge Computer Lab, where Beart was a visiting Industrial Fellow, and the lab currently retains 1% Golden Share in the company.
As for Dobson he too has much experience in the technology space having founded Actix, www.actix.com, the leading independent software provider of mobile network optimization solutions, in 1991 and served as its CEO and CTO until 2007. He sold a majority stake of Actix to Summit Partners in 2005, and subsequently 100% was sold to Amdocs, www.amdocs.com, for $120 million in September 2013.
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