The art of taxation consists in so plucking the goose as to get the most feathers with the least hissing - Jeane Baptiste Colbert
INTERNET OF THINGS (IoT) group the Hypercat Consortium has received a funding boost of £1.6m, taking its resources up to £8m.
The Hypercat group comprises around 40 companies including Intel, ARM, IBM and BT, and its work is coordinated by Flexeye.
Flexeye announced the additional investment and its source in a statement on Wednesday. The source is the UK Technology Strategy Board and the additional funding is expected to push the UK IoT industry forward.
ARM welcomed the additional infusion of cash. "ARM welcomes news of this funding. Increasing the utility of embedded connected devices will benefit everyone, and the Hypercat consortium has put itself in an excellent position to build momentum for this web-friendly IoT technology," said Amyas Philips, head of ARM's internet of things research group.
"ARM looks forward to using that momentum to support the technology's integration into core internet standards.'
Flexeye conceded that there are other players in the market, but said that Hypercat is aiming at a system that's simple to adopt, with early adopter appeal.
"As new entrants to the IoT market strive to deliver revolutionary solutions at an extraordinary pace, Hypercat will ensure that these players can securely speak a common language," said Flexeye CEO Justin Anderson.
"The UK has an opportunity now, through Hypercat, to be central to the IoT revolution, levelling the playing field with the ubiquitous American giants and inspiring British industry to deliver £100 billion of value by 2020 - Great Britain can grow back its industrial teeth."
The consortium's Hypercat standard will be published independently through the British Standards Institute next year.
For more on the Internet of Things, visit the Intel IT Center. µ
Tags: Internet of Things
Sign up for INQbot – a weekly roundup of the best from the INQ