Northern Greece Investment Fund announces a €1 million investment in Pragma IoT AE, enhancing its capabilities in the rapidly evolving Internet of Things sector.

Target Company Overview

Pragma IoT AE, founded in 2017 as a spin-off from CERTH-ITI, specializes in offering comprehensive software solutions and consulting services within the Internet of Things (IoT) realm. The company provides various services, including low-power computing, fog networking, and the design of next-generation IoT gateways. Its OEM platform supports multiple user stakeholders, irrespective of the domain, and allows extensive customization and adaptation. Since its establishment, Pragma IoT has been generating consistent revenue, showcasing impressive growth with a net profit increase of over 780% from 2019 to 2020, along with a robust net margin of 66%.

Beyond its core offerings, Pragma IoT develops smart solutions for global organizations and businesses, focusing on Industry 4.0 applications, Smart Cities, and enhanced technologies such as Artificial Intelligence and Machine Learning. The company's flagship product is a dynamic OEM IoT platform designed to automate the collection, storage, analysis, and presentation of big data from various sources, including sensors and ERP systems. Additionally, Pragma IoT has introduced innovative products such as e-Factory, a data analytics system for factory performance evaluation, and an Anti-Covid system to automate entrance and exit control amidst the pandemic.

Industry Overview in Greece

The IoT industry in Greece is witnessing rapid growth and transformation, paralleling global trends. Greece's strategic geographical position, coupled with its skilled workforce and robust digital infrastructure, positi