Tern Plc Wyld Networks receives SEK 9.2 million purchase order

Tern Plc (LON:TERN), the company focused on value creation from Internet of Things (“IoT”) technology businesses, has noted that Wyld Networks AB has today announced that it has received an approximately SEK 9.2 million (approximately £0.7 million) purchase order for the Wyld Data service.  Tern currently holds 40.2% of Wyld Networks’ equity.

Extracted from the Wyld Announcement:

Following an earlier order for Wyld Connect modules in 2022, Wyld Networks today announces an additional order for SEK 9.2 million for the Wyld Data service from a South African company deploying soil moisture sensors to optimize irrigation and automate scheduling systems for agriculture.

Wyld’s customer manufactures and markets highly specialized soil moisture sensors and end-user applications for agricultural markets providing solutions to more than 6,500 companies internationally.

Agriculture accounts for 70% of all water consumed globally, and 40% of that water is wasted due to poor irrigation systems, evaporation, and overall poor water management. The use of data from soil moisture probes and data driven analytics to optimise irrigation has been shown to reduce that waste of water by up to 30% and increase yield of crops by upto 30%.

However, 85% of the world’s surface has no access to the internet to collect this data and farmland is typically located in this area. Wyld’s end-to-end satellite IoT solution provides our customers with 100% global connectivity to ensure this critical data can be collected from anywhere in the world to ensure reduction of waste of water and increase yield in crops.

“Providing soil and irrigation data is key to meeting agricultural sustainability goals and yield targets,’ said Alastair Williamson, CEO of Wyld Networks. ‘We are delighted to be helping our partner to deliver data anywhere in the world via low earth orbiting satellites to meet this challenge. We have to date secured an order intake of approximately SEK 76 million. These orders are predominantly comprised of 223,000 Wyld Connect modules. Wyld are now pleased to see the start of order intakes for the Wyld Data service.”

Click to view all articles for the EPIC:
Or click to view the full company profile:

    More articles like this

    Tern plc

    Device Authority secures $7M funding for Enterprise IoT security

    Device Authority, a global leader in Identity and Access Management for Enterprise IoT ecosystems, announced $7M in Series A funding from Ten Eleven Ventures, a global venture capital firm specializing in cybersecurity. The investment follows Device Authority’s prestigious Microsoft

    Tern plc

    How Artificial Intelligence is reshaping healthcare

    2023 was a big year for artificial intelligence (AI). The launch of Chat-GPT-4, Microsoft Copilot, Google Bard and Amazon Q has raised awareness of the potential of AI solutions across the board. In the healthcare sector, the

    Tern plc

    Uncovering insights on GLP-1 and GIP/GLP-1 medications

    In collaboration with our partners at Sermo, our Advanced Data Science and Artificial Intelligence solutions played a crucial role in uncovering previously unseen intelligence about GLP-1 and GIP/GLP-1. This report is designed to comprehend challenges, perceptions,

    Tern plc

    Is your connected device secure and FDA compliant?

    As a medical device company, are you familiar with an FDA regulation called section 524b? What is Section 524b? On March 30th, 2023 an act was signed into law that contained a section on contained a

    Tern plc

    Tern supporting investee secured for Device Authority

    Tern recently took part in an interview with DirectorsTalk following the announcement in late December that portfolio company Device Authority had received a US$7m strategic investment from Ten Eleven, a global leader in cyber security with

    Tern plc

    FundamentalVR named as Market Disruptor in EducationInvestor Global’s Ed Tech Fast 20

    Learn how FundamentalVR is leading the way in advancing training and education through disruptive technologies in the Ed Tech market. With their innovative HapticVR™ technology and Fundamental Core SDK, they are simplifying the development and distribution of medical simulations. Backed by Tern plc, FundamentalVR is a healthcare technology company with a mission to accelerate human capability via precision simulation.