French IoT Startup Sen.se announced that Eridanis, an consulting & strategy firm specialized in IoT product development, has taken a majority stake in its startup, a partnership which the two hope will enable them to provide B2B companies with IoT services in the future.
The news comes on the back of rumors concerning Sen.se’s lack of appeal in the US market, which left many ambitious retailers with an abundance of stock sitting in warehouses, which even Sen.se couldn’t get back for months. A big financial weight for a company that never publicly crowdfunded or raised from VCs.
The acquisition by Eridanis will enable the consulting firm to leverage some in-house technology when providing services and product development for clients, while enabling Rafi & his team to leverage Eridanis’ existing B2B pipeline, abandoning the B2C use-case for Mother and her Cookies.
In what seems like a fitting foreshadowing, Haladjian took the stage last week at Web2Day, giving a keynote that he called “The end of the Internet of Things.” While this is an eye-grabbing tagline that Rafi has been using as far back as 2012, when he launched Sen.se, this time seemed rather fitting. While it may not be nearly the end of IoT, it seems a fitting end for Sen.se. Eridanis has taken a majority stake in Sen.se, and Rafi will remain on the board.