Vilnius-based clean tech startup Viezo has secured an undisclosed amount of investment in a recent funding round led by Rockstart, an Amsterdam-based early-stage investor that empowers purpose-driven founders in the energy, agrifood, and emerging technologies domains, along with CoInvest Capital, a Lithuanian VC fund, and 7 LitBAN angels. Viezo has developed vibration energy harvesting technology by which sensors and other Internet of Things elements can be powered without batteries.
Founded in 2018, Viezo offers a unique solution that incorporates a vibration energy harvester embedded with advanced sensors and data analytic algorithms, allowing railway operators to identify wheel and bearing problems and inform wagon owners about the expected maintenance.
The technology can convert vibrations into usable electricity, which can power the sensors indefinitely, ensuring that accurate data is provided to the owners about the condition of the wagon. Initially, the startup planned to deliver the energy harvesting technology to sensor manufacturers, but the COVID-19 pandemic compelled the company to start producing its sensors.
“All of Rockstart’s team members were incredibly hands-on in completing the due diligence process and onboarding us into this platform. It left an amazing impression on us, thus we believe that the quality of the whole program shall be exceptional.” says Donat Ponamariov, CEO of Viezo.
