Wireless internet firm to create 100 new jobs in Hull with £10m Silicon Valley investment

Connexin, the wireless internet firm based in Hull, is set to create 100 new jobs after securing a £10m investment from Silicon Valley-based technology company, Cisco.

The £10m investment is being used to build a technology campus in Hull, which will include a data centre and Connexin’s new headquarters.

As well as the 100 new jobs at its headquarters, Connexin is also creating 10 new jobs at the London office.

Connexin is using the investment led by Digital Alpha Advisors, which has a strategic partnership with Cisco Systems, to respond to increasing demand among local authorities for smart city technologies.

The company is increasing its work with local authorities to provide Wi-Fi as a public service and for connected devices such as road sensors, energy, and security systems.

In addition, Connexin’s investment partner Digital Alpha will enable the firm to offer cash-strapped local authorities new ways of financing technology upgrades. Digital Alpha will underwrite up to £100m in smart city projects in coordination with investment partners.

Furqan Alamgir, Connexin CEO, said: “The smart cities race has stepped up a gear and this investment lifts Connexin to the front of the field. This investment is accelerating Connexin’s work with local authorities.

“Working together we can more quickly unlock the societal benefits of the internet of things, which means better transport, cleaner streets, improved health and social care, and a whole lot more.

“Smart cities require smart partnerships between the public sector and technology providers. With this backing, we are able to provide local authorities with smart ways to finance technology upgrades that share the risks and the benefits between us and make sense to taxpayers.”

Founded in Hull in 2006, Connexin significantly expanded its work with local authorities across the UK since it won a 10-year city centre wifi contract with Hull City Council.

Anil Menon, global president for Cisco’s Smart+Connected Communities, added: “We’re thrilled to partner with Connexin, a pioneer in smart cities digital transformation in the UK.

“Connexin and Cisco both recognise that digital transformation is about improving people’s lives — whether through connected health, social care, and education; smart parking, lighting, and waste management; or access to other improved urban services.

“Cisco was recently recognised as the leading smart cities supplier for our ability to bring together technology, innovation, strategic thought leadership and a powerful ecosystem of partners.

“Connexin, as our partner, will combine its solutions with the Cisco Kinetic for Cities platform into a unique single service offering.

“By financing the offering through a comprehensive revenue-share model, it will be possible to remove the impact of city budget limitations and help scale smart cities adoption across the UK and beyond. Digital Alpha’s investment galvanizes this relationship and inspires new infrastructure investment models worldwide.”

Rick Shrotri, managing partner at Digital Alpha, added: “This is an investment in one of the UK’s leading players in smart city technology. Connexin is not just talking about smart cities as something for the future, they are making it happen right now.

“One of the bottlenecks for smart city solution adoption has been the availability of a financial structure that matches the opportunities created by smart services. With our investment partners, we intend to fund up to £100m of projects across the UK so that cities have a turn-key solution of technology, services, and a financial model that simplifies adoption of smart city solutions.”