Yokogawa takes €6m stake in Sensire in cold-chain move
June 18, 2019
Japanese technology company Yokogawa Electric is to take a €6m stake in Finland-based Sensire and begin collaborating on IoT-based cold chain monitoring.
Through this initiative, both companies aim to develop and provide services that combine Yokogawa's industrial IoT (IIoT) architecture, subscription-based IIoT services being developed by its Amnimo subsidiary, and Sensire's cold chain temperature monitoring technology.
Demand for technology that facilitates the temperature-controlled transportation of perishable items from the point of origin to the point of consumption is on the rise, and this need is particularly acute with pharmaceutical and food products that require strict temperature control.
Sensire offers specialised temperature monitoring mainly for the cold chain. Its compact and power efficient temperature sensors collect and transmit temperature data to the cloud for access from PCs and mobile devices. Supporting a range of wireless communication protocols suitable for land, sea and air transport applications, Sensire's products can ensure access to continuous real-time monitoring data that deliver quality and compliance information when and where it is needed.
Yokogawa is developing a cloud-based IIoT architecture in collaboration with Microsoft and, based on this, is starting to provide products for the remote monitoring of physical quantities. In addition, the Amnimo business unit is developing IIoT services that use this architecture to provide access to data from not only manufacturing plants but also other types of facilities and situations, with the aim of delivering subscription-based measurement-as-a-service (MaaS).
Having taken a 35.2% stake in Sensire, Yokogawa is now this company's largest shareholder. Using Yokogawa's know-how and global network, the two companies will work together to develop temperature monitoring for the cold chain and other logistics services, and expand this business.
"Under its Transformation 2020 mid-term business plan, Yokogawa is now exploring new business models such as recurring revenue while also aiming to expand its business in the pharmaceutical and food fields,” said Tsuyoshi Abe, Yokogawa senior vice president. “I am convinced that Sensire's solutions will accelerate these efforts, and I trust that we will be able to deliver new value to applications where precise temperature control is critical by combining the technologies of both companies."
Sensire, founded in 2007 by CEO JP Asikainen, provides wireless and automatic real-time monitoring products that serve the global climate-controlled chain.
"I believe that this collaboration with Yokogawa will provide us an opportunity to expand the business globally and ensure the transition to the next-generation of cloud architecture,” said Asikainen. “We look forward to making the latest and best cold chain solutions available to customers in a broader range of industries and applications."
Headquartered in Joensuu, Finland, Sensire’s turnover in 2018 was €1.5m.
Founded in 1915, Yokogawa engages in activities in the areas of measurement, control and information. It co-innovates with its customers through a global network of 113 companies spanning 60 countries, generating US$3.6bn in sales in 2018.