Pelion IOT Limited
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Pelion IOT Limited - overview
Established
2000
Location
Glasgow, -, UK
Primary Industry
Telecoms
About
Pelion IOT Limited specializes in IoT connectivity solutions, leveraging multi-network eSIM technology to provide seamless connectivity for businesses across various industries, including transportation and healthcare. Founded in 2000 in Glasgow, UK, Pelion IOT Limited focuses on providing advanced IoT connectivity solutions. The company is led by CEO Martin Permin, who has a history of founding innovative tech firms. Pelion has engaged in one notable deal, with Scottish Equity Partners investing in the company on October 19, 2022.
Pelion offers comprehensive IoT connectivity solutions primarily through its multi-network eSIM technology, enabling businesses to connect their IoT devices seamlessly across various global networks. The core service empowers users to deploy, manage, and secure IoT devices at scale while ensuring high availability with an impressive uptime of 99. 995%. This service caters to a diverse range of industries, including transportation, healthcare, logistics, energy, and smart cities, facilitating tasks such as fleet management, asset tracking, EV charging, and connected healthcare.
Pelion's solutions are designed for a global customer base, targeting markets in North America, Europe, and Asia, thus providing robust connectivity options to businesses looking to optimize their operations through IoT technology. Pelion's revenue generation for the most recent financial year, 2024, amounted to USD 15. 39 mn, with an EBITDA of USD -5. 14 mn.
The company primarily structures its revenue around subscription-based services for its IoT connectivity solutions, allowing clients to access a range of plans tailored to their operational needs. Transactions typically occur through B2B partnerships, where businesses subscribe to multi-network connectivity services and utilize Pelion's platform to manage their IoT deployments effectively. The company's offerings include robust security options and inclusive support plans, enhancing the overall value proposition for clients. Pelion IOT Limited plans to leverage the recent investment from Scottish Equity Partners, received on October 19, 2022, to grow independently and invest further in product development, sales, and customer support.
The company is focused on enhancing its service offerings and expanding its market presence, with targeted efforts to penetrate new geographic regions in North America, Europe, and Asia by 2025.
Current Investors
Scottish Equity Partners
Primary Industry
Telecoms
Sub Industries
Telecoms Providers & Services, Internet Service Providers
Website
http://www.pelion.com
Company Stage
Mature - Growth Capital
Total Amount Raised
Subscriber access only
Pelion IOT Limited - timeline of key events
Pelion IOT Limited - financials
| Fiscal Year Ended | Mar 31, 2019 | Mar 31, 2020 | Mar 31, 2021 | Mar 31, 2022 | Mar 31, 2023 | Mar 31, 2024 | Mar 31, 2025 |
|---|---|---|---|---|---|---|---|
| Revenue (USD) | 9,137,572 | 25,457,762 | 25,694,510 | 22,687,550 | - | - | - |
| % Revenue Growth (YoY) | - | 178.6% | 0.9% | (11.7%) | - | - | - |
| EBITDA (USD) | (3,560,204) | (2,772,404) | 954,526 | 551,279 | - | - | - |
| Operating Income (USD) | (3,695,004) | (3,073,102) | 179,349 | (262,416) | - | - | - |
| Operating Margin | (40.4%) | (12.1%) | 0.7% | (1.2%) | - | - | - |
| % EBITDA Margin | (39.0%) | (10.9%) | 3.7% | 2.4% | - | - | - |
| NET Income (USD) | (3,705,064) | (2,545,462) | (765,732) | (23,793,839) | - | - | - |
| % Net Margin | (40.5%) | (10.0%) | (3.0%) | (104.9%) | - | - | - |
Pelion IOT Limited - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Growth | Completed | Pelion IOT Limited | - |
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Pelion IOT Limited - employee data
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