CED Tech Venture profile: Internet of Things startup Scout IoT

“IMMEDIATE VISIBILITY INTO EVERYTHING”

That’s the promise that Scout IoT, an industrial-focused Internet of Things startup, says it offers through a new, emerging wireless technology.

“Wireless monitoring and recording of every device in your factory”

The Greensboro firm will make its case to investors at 2016 CED Tech Venture Conference. Here’s a profile of the Brendan Younger-led startup, the second in a series to be published as part of a partnership between the Council for Entrepreneurial Development and WRAL TechWire.

The Q&A:

What is the focus of your business?

We make wireless transmitters that send sensor data from industrial process control and commercial HVAC systems to the cloud.

What is the top pain point/business application you are seeking to address?

Large facilities like manufacturing plants, commercial buildings, airports, colleges, etc. have a huge number mechanical systems they need to monitor and repair. Today, most aren’t pro-actively monitored because the cost of running cabling and installing a facility monitoring network is cost prohibitive.

Because of this, air conditioners are run until they break, manufacturers have no idea how often their machines are running or idle, and there is a lot of guesswork and wasted time spent maintaining system expensive machinery.

What makes Scout IoT unique?

We use a new wireless technology called LoRa which does two things previous networks couldn’t:

It can send data up to 2 miles from a battery-powered transmitter
It supports thousands of connected transmitters talking to a single gateway.

It does all of this for a modest price as well.

Why should investors be interested in your firm?

As far as we know, we’re one of only a couple of firms actively bringing LoRa technology to private organizations in the U.S. The LoRa technology has been proven out in several European cities and countries, but is relatively unknown in the U.S. We think it’s time that changes.

Business facts: