In 2011, Innovacom linked up with the virtuoso embedded software start-up IS2T to help it scale up and catch the fast-approaching IoT wave.
IS2T writes software platforms for small electronic devices, sensors and embedded software
Founded in 2004
Founders : Fred Rivard
Fundraising : successive rounds since 2011 raising several million euros
Fund : Innovacom6
Vincent Deltrieu (Innovacom): IS2T was set up by Fred in 2005. It started by selling expertise in embedded software. Over the years, however, the start-up acquired a rare mix of skills and some strong ideas. In due course Fred and his team prototyped their Java solution, equivalent to an operating system that can run Java on flash microcontrollers. Impressed by the demo version, we invested in 2011. Our agreed goals were to market a software platform for small electronic devices and to change the business model. This required a deep structuring of the organisation and its internal processes, including sales, support, production and distribution strategy. IS2T subsequently went on to succeed. Trading under the brand name “MicroEJ” IS2T now supplies millions of components and devices for the household appliances, sensors, industrial IoT and smart home markets. It has translated the smartphone-based model of off-the-shelf apps and a unified development environment into the world of small and ultra small electronic goods. The company is growing fast and active in France, Europe and, since 2016, the USA.
Fred Rivard (founder of IS2T): When the time came for the firm to make significant and strategically decisive investments we started looking for a solid and reliable partner. Innovacom has its track record, of course, but we were also quickly impressed by the quality of our discussions and their upstream technology watch work. They already knew who we were and had been tracking us for several years. On a day-to-day basis, they were highly pro-active on the development of IS2T. We did some joint projects that really allowed us to structure the company, anticipate future development and growth avenues. It was not just their grasp of HR issues and how IS2T could become a “proper” company that was essential for us, but also their clear-eyed understanding of the technological issues.
As well as developing internationally – the Nantes-based company is already established in the USA – IS2T has signed deals with many global leaders in the semi-conductor industry. Scores of millions of objects or appliances have been sold or are being designed using MicroEJ. The company is emerging as market leader.