Avnet invests in UK IoT innovations provider

The investment is expected to generate benefits for both Hanhaa and Avent – as it will accelerate the pace in which Hanhaa develops its IoT products and solutions while at the same time expand Avnet’s presence in the high-growth IoT marketplace, a press release reads. “At Hanhaa, our team of engineers has been working tirelessly over the last three years to bring the vision for improved, more secure and scalable IoT innovations to life. Through this partnership with Avnet, we see significant benefits – Avnet will provide Hanhaa and our customers access to specialized product development and distribution capabilities across the globe; and Hanhaa will help Avnet reach new markets through Hanhaa’s progressive IoT technology. This investment and new relationship will accelerate the growth trajectory for the business and allow us to speed up time to market,” said Azhar Hussain, CEO and founder of Hanhaa. Hanhaa is currently a provider of IoT innovations to the global logistics and supply chain industry. With its own wholly-owned, IoT dedicated, secure mobile network in place, Hanhaa is able to deliver real-time tracking – including location, condition and security of goods – across the globe for clients in the retail, pharmaceutical and automotive sectors, among others. “Hanhaa is an innovator of progressive IoT technology. Their technological ingenuity combined with their product development expertise will almost certainly speed them to the forefront of global IoT solutions. As Hanhaa prepares to introduce new products to market, coupling their innovation and nimbleness with the sheer breadth and depth of Avnet’s global reach and end-to-end ecosystem, creates an ideal match. We’re well-aligned to win, Hanhaa solutions supported by Avnet will answer the ever-increasing demand for IoT tools across the burgeoning IoT marketplace,” said Terry Bassett, chief strategy and innovation officer at Avnet, in the release. As a part of this new relationship, Hanhaa will leverage Avnet’s design services for new product design and development, and utilise Avnet’s fulfillment pipeline and components distribution capabilities– needed by Hanhaa for volume production. In addition, Avnet will broaden the range of opportunities for Hanhaa technologies by engaging its online communities, element14 and Hackster.io.