Tern has announced an update on its portfolio activity. Individual companies are gaining commercial traction, with configuration work turning to repeat licencing and significant year-on-year growth in recurring revenue contracts. Third-party investments and uplifts in value are critical proof points that Tern’s model is delivering. The first Series B round was successfully completed in August 2022 for FundamentalVR.
Tern also strengthened its own balance sheet with two fundraises in the latter part of 2022, underpinning its focus on shareholder value and protecting its position as portfolio companies increase market penetration and garner strategic interest. The IoT space is buoyant, demonstrated this week by Cognizant Technology Solutions acquiring IoT software engineering business Mobica.
Tern plc (LON:TERN) backs exciting, high growth IoT innovators in Europe. They provide support and create a genuinely collaborative environment for talented, well-motivated teams. Wyld Networks is uniquely placed to deliver fixed and mobile mesh technology for Smart Cities, Events, Retail, Health and Industrial installations.