Internet of Things firm attracts new investment

London-based firm will accelerate roll-out of products in new expansion.

Internet of Things (IoT) company Hanhaa has received financial investment from global technology distributor Avnet.

The undisclosed funding will be used to help Hanhaa increase the pace in which the company sells products and will also boost Avnet’s international customer base.

Hanhaa provides IoT services to the global logistics and supply chain industry, allowing for real-time tracking of goods including location, condition and security. Its clients include Microsoft and Premier Farnell. Its Excel plugin brings its data analytics programme Symbisa to users by interpreting user data- such as heat, humidity and light levels- and transports them directly into Excel cells.

How will internet of things affect business

Hanhaa can also understand if a courier box has been opened, is tilted by more than 30 degrees in any direction and if the box falls for more than 0.4 seconds.

Azhar Hussain, CEO and founder of Hanhaa, commented, ‘Through this partnership with Avnet, we see significant benefits – Avnet will provide Hanhaa and our customers access to specialised product development and distribution capabilities across the globe.’

Terry Bassett, chief strategy and innovation officer at Avnet, said, ‘Hanhaa solutions supported by Avnet will answer the ever-increasing demand for IoT tools across the burgeoning IoT marketplace.’

Hanhaa’s Symbisa programme collects and transmits data via a tracking service and is used by John Lewis’s customer return team.

As part of the deal, Avnet will engage its online communities of around 1 million engineers on element14 and, with content, contests and promotions which it hopes will further improve Symbisa.

The idea for Hanhaa was formed in 2014 after employees wanted to track parcels in a better way because they were not receiving them correctly. Its ParceLive company, essentially a Black Box for parcels, aims to bring together technology with existing supply chains to increase network visibility and enable real time workflows.

Online shopping has continued to rise; it seems increasingly more important for companies to deliver the best possible customer service when delivering parcels from depot to doorstep.

Further reading on Internet of Things

Internet of Things Security – are you failing to prepare

Michael Somerville

Michael Somerville

Michael was senior reporter for from 2018 to 2019.