In a recent release, Insight SIP, an ultra-miniature RF modules company, announced that 2C Invest, a Toulon, France-based investment fund, has purchased the shareholding of a number of existing investors. As a result of this investment, 2C Invest will hold 18.6 percent of the capital of Insight SIP.
Insight SIP was founded in 2005 in Sophia Antipolis in the South of France by three senior executives from the electronics industry: Chris Barratt, Michel Beghin and Marc Vodovar. Subsequently Nick Wood, a serial entrepreneur in high tech industries, took the role of President. Insight SIP is active in global markets in Europe, Asia and North America, and over 85 percent of its sales are outside France.
Thanks to its focus on wireless connectivity and small connected IoT devices, Insight SIP’s miniature electronic components have been incorporated into hundreds of OEM products requiring low power and IOT connectivity. The applications have been hugely varied including connected industrial tools, wireless access control, connected laboratory equipment, biological sensing solutions for temperature and blood glucose level, monitoring of pregnant women, orthodontic implant tracking and military connected devices, in addition to toys, cycling applications and sports tracking equipment. It is worth noting that in 2017, Insight SIP technology was used by the astronaut Thomas Pesquet in his six months mission at the international space station.
Over the last 10 years, the company has grown at an annual rate of over 30 percent per annum and has sold over a million of its own modules. In addition, custom products designed for third parties have been produced in quantities of several tens of millions of units annually.
The growth of Insight SIP was supported by investment initially from Sophia Business Angels who were joined in subsequent years by PACA Investissement, Primaveris and Success Europe. In 2018, Primaveris and Success Europe wished to exit their investments, and have sold them to 2C Invest and to the company management.
“On behalf of the founders and all of the Insight SiP team, I would like to thank Primaveris, Sophia Business Angels and Success Europe for their financial support and guidance over the last decade. Today we are very happy to welcome Erwoan Naour and his team from 2C Invest. We believe they can bring important benefits to us with their industrial know-how and financial expertise to assist in our future growth and the next stage of our development,” said Michel Beghin, CEO, Insight SIP.
“I am delighted that through its investment in around 18,6 % of the equity share capital of Insight SIP, 2C Invest will have the exciting opportunity to accompany the founders and management team in realising our shared goals for further development and profitable growth in the fast-growing wireless connectivity/IOT global market,” said Erwoan Naour, President, 2C Invest.
Ken Briodagh is a writer and editor with more than a decade of experience under his belt. He is in love with technology and if he had his druthers would beta test everything from shoe phones to flying cars.Edited by
Ken Briodagh
