Velos IoT Group

Based in Jersey, Velos IoT specializes in providing advanced IoT connectivity solutions, focusing on Low Power Wide Area Network (LPWAN) technologies to support diverse industries and enterprises with robust and scalable connectivity. Founded in 2022 and headquartered in St Helier, Jersey, Velos IoT operates as a provider of innovative IoT connectivity technologies. The company was acquired by Perwyn and Esas in July 2021, details of which remain undisclosed. The firm has engaged in 1 deal since its inception, with its most recent transaction occurring on July 1, 2021.

Velos IoT specializes in providing advanced IoT connectivity solutions, focusing on Low Power Wide Area Network (LPWAN) technologies such as NB-IoT and LTE-M. Their core products include ULTIMATeSIM, a smart eSIM solution designed for multi-carrier capabilities, and a comprehensive IoT Connectivity Management Platform (CMP) known as Nomad, which facilitates easy provisioning, monitoring, and billing for IoT services. These products are aimed at various industries, including transportation, logistics, asset tracking, retail, energy, healthcare, and agriculture, catering to a diverse client base that encompasses IoT manufacturers and enterprises requiring robust connectivity for mission-critical applications. Velos IoT's solutions are deployed globally, providing coverage across 700+ networks in over 200 countries and territories, ensuring that businesses can effectively manage and scale their IoT deployments with reliable and secure connectivity.

The revenue structure of Velos IoT is predominantly derived from B2B partnerships and direct sales to enterprises, centered around their flagship products like ULTIMATeSIM and the Nomad CMP. The company operates on a subscription-based model, where clients pay for IoT connectivity services on a recurring basis, reflecting their usage and the specific solutions implemented. Transactions typically involve tailored agreements based on the scale and complexity of the client's IoT needs, where pricing may vary according to the number of connections, the specific technologies employed, and additional features such as customized data plans. This flexible approach allows Velos IoT to cater to different business sizes, from small enterprises to global corporations, ensuring that their services align with varied operational requirements and budgets.

Velos IoT is focused on expanding its product offerings and geographical reach. The company plans to launch new products designed for enhanced IoT connectivity in Q3 2023. Additionally, they are targeting expansion into North American and Asian markets by the end of 2024. The recent acquisition in July 2021 by Perwyn and Esas positions Velos IoT to leverage funding for these strategic initiatives.