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IoT startup SAM Labs closes £3.2m funding round


SAM Labs, the creator of Internet of Things (IoT) electronic kits, has raised £3.2m in funding in a round led by Imperial Innovations Group.

Founded in 2014 by a group of Imperial College graduates, the startup previously raised over £125,000 in crowdfunding last year.

Joachim Horn, CEO and founder, said: “It’s amazing to have Imperial Innovations as our first institutional investor, particularly given their excellent track record in science and engineering. Their scientific and creative
approach are a huge source of inspiration for the construction kits we’ve built.”

The company claims that 1,000 educators have now adopted their kits to explain the concepts of coding, circuitry and wireless connectivity to young children.

Robert Bahns,​ director technology venture at Imperial Innovations, commented on his decision to invest in the London-based firm:

“The SAM Labs wireless construction kits are encouraging young people to take an interest in technology and engineering, which is an issue we feel very passionately about. We have always championed UK innovation, particularly in STEM, and look forward to seeing how these products will enable young people to explore real­world applications.”