ONiO is a Norwegian SME company dedicated to developing and commercializing self-powered, battery-free sensor solutions to the IoT market. Since 2016, they have developed an ultra-low-power wireless MCU that uses energy harvesting as power source – the ONiO.zero. It is ONiO’s vision that the need for costly, environmentally harmful, and high-maintenance batteries will be completely removed and replaced with ONiO’s own smart chip technology for powering IoT devices irrespective of the sector.
Together with Innovayt, ONiO prepared a successful proposal for the EIC Accelerator funding programme through the blended finance option, obtaining a funding package combining a grant of €2.5M to finance part of the final product development plus an equity investment of €4.5M targeting upscaling and commercialization. The purpose of the funded project is to fast-track the maturation and industrialization of the ONiO.zero and showcase the potential of its technology to raise customer awareness and make the product attractive to large international investors. Leveraging on funding from the EIC Accelerator, ONiO will be able to turn its disruptive technology into a de facto industry standard within the battery-free IoT market.
OniO Chief Marketing Officer Runar Finanger said: ”Writing an application for the SME instrument is not a walk in the park – you need to know the nuts and bolts and potential pitfalls. Innovayt’s consultants helped us navigate this rugged landscape, and their contribution led to a successful outcome.”