Singapore-based IoT startup completes seed round led by Silicon Solution Ventures

Ampotech, an internet-of-things startup based in Singapore, bagged roughly US$725,000 in a seed funding round led by Silicon Solution Ventures, a fund managed by electronics startup incubator Silicon Solution.

Photo credit: Vasin Leenanuruksa

Enterprise Singapore’s SEEDs Capital also participated in the round, alongside existing investor PT Prasetia Dwidharma, an Indonesian telecommunications and infrastructure company.

With the investment, Ampotech is looking to extend its reach in Asia Pacific and to expand its product range as it aims to tackle markets such as Australia and Indonesia. By the end of 2019, Ampotech expects to enter another regional market, said CEO and co-founder William
Temple.

Ampotech, which was a spinoff from a University of Illinois and AStar research center in Singapore, develops power monitoring solutions for use in the commercial and industrial sectors. It combines sensing hardware with a cloud-based analytics platform to drive its monitoring system. Its devices operate on a fully wireless architecture, which helps with rapid deployment in existing buildings.

Since going to market in 2018, Ampotech has partnered with global semiconductor company Infineon Technologies, which selected the startup as one of four participants in its first global co-innovation program.