A new partnership with Canadian Kryton secures Danish Sensohive a nice double digit million investment and access to the global market.
The Danish technology company, Sensohive, from Odense is making its mark on the global stage of concrete through their new partnership with the largest global player in the industry, Kryton International Inc. Two years ago, Sensohive launched Maturix, which, by using a small sensor in the concrete, can let contractors follow the strength and maturity of the concrete during curing and notify them at the exact time the curing is done. This allows them to avoid unnecessary waiting and reduce waste. Since the launch, the business has been going very well, and the solution is already being put to use by several of the largest contractors and element factories.
A perfect match
About the importance of the partnership with Kryton, the 27-year old CEO of Sensohive, Casper Harlev, says:
“Kryton is a key global player in the concrete industry, and, like Sensohive, they are working with the highest productivity in the construction industry so it couldn’t be a better match. With the partnership, we gain direct access to tens of thousands of potential customers and financial resources to gain entry into new markets.”
Kryton develops products that improve the concrete’s quality, including their smart self-healing concrete, which makes concrete resistant to water by crystallization.
“The investment follows Kryton’s goal of helping contractors around the world build faster and more efficiently through innovation. Furthermore, it is an important addition to our Smart Concrete® brand,” Kari Yuers, President and CEO of Kryton International Inc. says.
Happy to be an Accelerace alumnus
Sensohive was a part of the Accelerace program back in 2016, and had a great and educational experience:
“The Accelerace program made us sharp in our business strategy and pitch. This resulted in a strong focus on our business, which has since helped ensure our rapid development. We have also been in ongoing dialogue with our Accelerace partner after the program, who has helped us on several occasions. We are extremely pleased to have participated in the program, as well as being part of the alumni network” Casper says.
Business is booming
Maturix is Sensohive’s product in a series designed to streamline the concrete industry through data collected by sensors and used for automatic reporting, alerting and optimization. The business revenue was DKK 4 million in 2018 and more than doubled to DKK 10 million in 2019. It is safe to say that it is going brilliantly for Sensohive, and this also means that the company expect to double the revenue once again in 2020 to approximately DKK 20 million.
Read more about Sensohive on sensohive.com