Mainport Innovation Fund aids in continued international rollout of smart network technology for airports and other markets.
Mainport Innovation Fund (MIF) has invested in the Dutch ‘Internet of Things’ startup Undagrid. The investment made in Undagrid will enable the company to propel international growth and allow them to enter new markets. MIF as an investment fund is a partnership between KLM Royal Dutch Airlines, Amsterdam Airport Schiphol, Rabobank, and the Delft University of Technology. Undagrid is an award winning Dutch startup, named ‘Sprout Startup of the Year 2014’ and ‘Best Internet of Things Startup’ by the European Institute of Innovation and Technology of the European Union.
“Undagrid technology makes it possible to track non-motorized vehicles at Schiphol Airport in real time, at low costs. This ensures optimal use of the vehicles, so we need less of them. Hence, it enables us to cut expenses considerably.”
Erik Swelheim, Managing Director & Chief Financial Officer of KLM
“Companies usually have multiple objects to manage, from big to small. Up until now, if they had no power, there was almost no way for vital information about these objects to be shared, such as the location, temperature, or their current status. If a situation like this occurs, it’s always a matter of: where exactly are the objects now and/or what’s the status of the objects? Undagrid technology ensures that objects, not matter what size, share useful information not only with each other, but also with the people operating the objects.”
Rolf van de Velde, Undagrid’s CEO and co-founder
“MIF’s investment, along with that of our partners KLM, Schiphol Airport, TU Delft and Rabobank, positions Undagrid to achieve their international growth ambitions as the communications solution for airport logistics faster. Not to mention, it helps them break into other markets outside of the aviation industry.”
Bram Ledeboer, Investment Manager at Mainport Innovation Fund