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KORE and Koch explore IoT use cases
- June 23, 2021
- Steve Rogerson
KORE is working with Koch Strategic Platforms to explore new use cases for IoT technology.
“Koch Strategic Platforms is the natural innovation partner for us because it already has a fundamental interest in making 5G, computing and connectivity come to life to advance the world around us, especially as we enter the decade of IoT,” said KORE CEO Romil Bahl. “We bring complementary skills to the table, which will help revolutionise IoT use cases and accelerate real-world adoption.”
The two organisations are exploring using IoT to solve pressing problems facing society. Potential applications include technology to address the health and safety of people in public spaces, enable manufacturers and plants to increase sustainability, and improve supply chains to make global commerce more efficient.
“Koch Strategic Platforms is excited to explore new opportunities in the connectivity space with KORE,” said Adam DeWolf, managing director for Koch Strategic Platforms. “As Koch companies continue to transform, we will be able to test solutions in real time across a variety of applications around the world.
With offices in Atlanta and Wichita, Koch Strategic Platforms wants to be the preferred investment partner of growth focused, strategic companies who are innovating in industries with disruptive potential. Created in 2020, the team pursues public and private investments with companies where long-term mutual benefit can be realised.
In April, Koch Strategic Platforms and other investors, including funds and accounts managed by BlackRock, led an investment of $225m into KORE, which recently reached an agreement to go public through a special purpose acquisition company backed by Cerberus Capital Management.
KORE helps manage more than 12 million connected devices across industries, and it is focused on key industry sectors that represent over 80 per cent of the market for connected IoT devices.