Cape Town IoT startup Sensor Networks raises 4Di funding

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Founded by Mark Allewell, previously known for location-aware travel guide Tourism Radio, Sensor Networks has built a bespoke platform aimed at helping insurance companies reduce risk through integration with IoT sensors.

“Traditionally, insurance companies base risk and premiums on historical data. The rise of the IoT has brought about the seamless integration of millions of sensors – smart devices – into our daily lives. Insurance companies can use these sensors to manage their risk better, in real-time,” Allewell said.

Sensor Networks started out in 2015, building Bluetooth trackers to help people find lost items. The team of nine has now created an IoT platform, allowing them to build bespoke hardware purely focused on insurance-risk reduction.

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