Jan 25, 2016

VT will work with French firm Sigfox and network operator 2RN to roll out network 34 minutes ago Patrick Joy from Suretank: the winner of The EY Entrepreneur of the year 2013 is among the investors. Photograph: Aidan Crawley         Irish tech start-up VT Networks has raised €1.2 million in funding to roll out the first “internet of things” (IoT) network in Ireland. Suretank founder and winner of the EY Entrepreneur of the Year 2013 Patrick Joy and Dome Telecom owner Dara O’Mahony are among the investors in the Dublin-based company. VT will work with French firm Sigfox and communication network operator 2RN to roll out the IoT network. Its founder Mark Bannon said the problem with cellular networks was that they were power-hungry and devices must be charged nearly every 24 hours. “With our technology, two AA batteries in a device will last five to seven years. Some batteries such as ones in a water meter last 12 years,” he said. “By June 2016 we will have 95 per cent population and territory coverage of Ireland. This will enable objects, sensors and ‘things’ to be connected anywhere in the country.”