Berlin-based deep web startup, Staex, has just recently concluded its pre-Seed investment round, led by the investors Brandenburg Kapital, a subsidiary of the Investitionsbank des Landes Brandenburg, and Blockwall Capital, a previous backer of such startups as well as distributor of protocols such as Solana, fetch.ai, Hedera Hashgraph and Hypatos.
Highly experienced business angels, including Andreas Möller, CEO of UNIBERG, who has a strong network in the telco industry participated in the round, already providing powerful support for the product strategy of Staex.
The problem with existing Web3-IoT bridges
The expansion of the IoT is enabling new business models such as Product-as-a-Service, also referred to as servitization. This model is accelerating the sharing economy because, by controlling and monitoring a cyber-enabled device, it’s easier to provide new product experiences and promote better resource utilization. With more sensors and actuators being built into physical objects and devices, personalisation is also more achievable.
IoT systems generate an excessive amount of data which could easily create a network capacity issue as it is streamed to data centres. The data can describe human interactions in the physical or digital world and is valuable for enhancing product experiences when analysed by AI/ ML algorithms in data/cloud centres.
Currently, the available tools do not allow for secure and transparent data flows across massively distributed devices and complex environments. Moreover, they do not completely provide simple and decentralized control over data. The rapid development of the IoT market and its corresponding applications are revealing the inefficiencies of today’s infrastructure. Heterogenous IT systems are proving inefficient to scale for massive IoT and Web3 applications. In such an IT landscape consisting of public and private sectors, multiple vendors, and municipalities, all with a cohort of IoT devices, it is almost impossible to harmonize the landscape with existing cloud solutions.
Bringing modern Web3 tech to IoT
Staex is bringing modern Web3 technologies to IoT, providing a next-generation tool for IoT which will enable a more lightweight alternative to orchestrating tools such as Kubernetes, OpenShift, Nomad or Balena. Staex’s solution provides Web3-features such as a full master-less management suite, fully decentralized networking and service mesh with up to 5x lower software footprint for IoT compared to previous cloud solutions.
Additionally, Staex supports any combination of infrastructure be it on Cloud, on-premise or on a device thus easing the management of IoT applications scattered across multiple locations and devices. Through its peer-to-peer nature, Staex allows for mass scalability for applications supporting hundreds of devices, a cohort of dynamic networks and a variety of networking segments. Staex, unlike its more centralized competitors, totally eliminates single points of failure in a system, providing robust and resilient software by design. Staex also removes the need for centralized VPNs, providing efficient and low-latency connectivity to devices, allowing for more low-latency advanced uses such as video streaming for IoT.
“Connecting machines with a plethora of blockchain and DLT protocols will enable a global machine-to-machine economy, where machines will be able to securely execute value transactions. This machine automation will save time and money for existing IoT businesses”, remarked Dr Alexandra Mikityuk, co-Founder and CEO of Staex.
The 2021 Deep Tech Awardee
Staex, a leading team in the industrial Web3 space, emerged from the innovation lab of Deutsche Telekom and is based on a patented cutting-edge technology. The company was founded in March 2021 by Alexandra Mikityuk and Philip Toepffer. After undergoing a management buy-out process, Staex has been independently operating on the market since 2021 and will relocate the company’s headquarters to Brandenburg in the course of this financing round.
Staex was honoured with the Deep Tech Award 2021 by the Berlin Senate in recognition of remarkable deep tech innovations in the area of IoT and Industry 4.0, a remarkable achievement in its first year. The startup was as well selected for the Intel Ignite program winter batch 2021.
“Our investment into Staex underlines our dedication to Web3 technologies and clearly shows the impact these technologies can have on industrial applications. It is our strong conviction that the next wave of opportunities within decentralized technologies lies in business models such as Staex,” commented Dominic Briggs, General Partner at Blockwall Capital.