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October 31, 2014

Samsung and Evrythng in Internet of Things pact

The deal will help Evrythng give every single object in the world a unique web-addressable URL to build a social network for IoT.

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Samsung has partnered with Evrythng, a London-based start-up, that involves an investment from Samsung Ventures Investment Corporation.

The amount of the investment and the specific details of the partnership are not yet known.

In a blog post, Niall Murphy, CEO of Evrythng, said: "We’re delighted to announce a new partnership with Samsung via their global investment arm Samsung Ventures Investment Corporation (SVIC), who have invested in EVRYTHNG to underpin the collaboration."

The three-year-old firm is one of the best funded start-ups out there. Back in April, it raised $7.5m in funding from Atomico, Cisco and other investors.

The firm’s plan is to give every single object in the world a unique web-addressable URL to build a social network for the Internet of Things (IoT). Its technology uses barcodes, QR codes, RFUD chips and other identifiers to connect objects to a database.

"The Samsung partnership is a powerful and important addition, and another endorsement of EVRYTHNG’s technology and vision as the right stuff for global brands seeking to make their products smart and part of the emerging Web of Things," added Murphy.

Evrythng’s software also includes APIs that would allow items, such as a whisky bottles or biscuits, to have personalised promotions.

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