Hanhaa, a UK based IoT innovations provider, has announced that Avnet, the global technology distributor, has made a financial investment in the company.
The investment is intended to generate benefits for both Hanhaa and Avnet--accelerating the pace in which Hanhaa develops leading IoT products and solutions, while expanding Avnet's presence in the high-growth IoT marketplace and increasing its global customer base.
A "win-win" for both companies
Azhar Hussain, CEO and founder of Hanhaa, said, "At Hanhaa, our team of engineers has been working tirelessly over the last three years to bring the vision for improved, more secure and scalable IoT innovations to life. Though this partnership with Avnet, we see significant benefits – Avnet will provide Hanhaa and our customers access to specialized product development and distribution capabilities across the globe; and Hanhaa will help Avnet reach new markets through Hanhaa's progressive IoT technology. This investment and new relationship will accelerate the growth trajectory for the business and allow us to speed up time to market."
Terry Bassett, chief strategy and innovation officer at Avnet, said of the deal, "Hanhaa is an innovator of progressive IoT technology. Their technological ingenuity combined with their product development expertise will almost certainly speed them to the forefront of global IoT solutions. As Hanhaa prepares to introduce new products to market, coupling their innovation and nimbleness with the sheer breadth and depth of Avnet's global reach and end-to-end ecosystem, creates an ideal match. We're well-aligned to win, Hanhaa solutions supported by Avnet will answer the ever-increasing demand for IoT tools across the burgeoning IoT marketplace."
Avnet will accelerate Hanhaa's growth
Hanhaa is currently a provider of IoT innovations to the global logistics and supply chain industry. With its own wholly-owned, IoT dedicated, secure mobile network in place, Hanhaa is able to deliver real-time tracking – including location, condition and security of goods – across the globe for clients in the retail, pharmaceutical and automotive sectors, among others.
Avnet is strategically focused on identifying and supporting high-potential startup companies, like Hanhaa, that are developing today's leading edge IoT solutions. Avnet simplifies product development by supporting customers at every stage of the design cycle with a full suite of in-house capabilities, providing seamless design, manufacturing and supply chain services to get products to market faster.
As a part of this new relationship, Hanhaa will leverage Avnet's design services for new product design and development, and draw upon the breadth of Avnet's fulfillment pipeline and components distribution capabilities--needed by Hanhaa for volume production.
In addition, Avnet will broaden the range of opportunities for Hanhaa technologies by engaging its robust online communities, element14 and Hackster.io, that have a total membership of almost one million makers and engineers, about these new technologies using content, contests and promotions.
Premier Farnell, a global high-service distributor of electronic components, and part of the Avnet group, will distribute Hanhaa's Symbisa.
Symbisa is an off the shelf and easy to use product that allows the user to embed the sensors into whichever application they need. ParceLive, the first global-scale IoT deployment by Hanhaa, is a tracking service that provides users with real-time information about the location, condition and security of their assets, no matter the country or logistics carrier.
Built on an existing relationship
Today's news follows an announcement at Microsoft's BUILD conference on 7 May 2018, in which Premier Farnell and Microsoft will be working together to use Hanhaa's Symbisa to bring the power of IoT to users through Office 365 and Excel.