Dutch wireless tech solutions provider Sostark raises €2M

The Hague-based Sostark, a technology incubator known for its wireless technology solutions, has secured €2M in a seed round of funding from Summus Fund, a Luxembourg firm specialising in early-stage investments in high-potential technology companies.

This funding will enable Sostark to expand its capabilities in developing high-volume wireless solutions for both industrial and consumer markets, building on its track record from idea inception through design to production.

Innovations developed by Sostark

Founded in 2003 by Hans van Leeuwen, Sostark is a technology incubator with a track record of successful projects. It specialises in high-volume wireless solutions across various industries.

Hans van Leeuwen says, “We love to improve the human environment, make life simpler, and activities more efficient using wireless products.”

The company has developed several ventures through innovations, including:

• Wireless Sound Solutions (WSS): Originally developed within Sostark, WSS created wireless audio chip technology and was acquired by New York-based SMSC (now part of Microchip).
• Event Wristbands: Sostark developed wristbands for large-scale events, offering RFID access, RF-controlled DJ lights, localisation of participants, and payment functions. These wristbands have been successful at major festivals like Tomorrowland, claims Sostark.
• Crowdband: Developed during the COVID-19 pandemic, Crowdband enabled anonymous contact tracing in large groups. Its wireless technology laid the foundation for TokenMe, a SaaS solution aimed at enhancing safety and efficiency on construction sites.
• TokenMe: Sostark’s latest spin-off, TokenMe is a SaaS solution enhancing safety, efficiency, and security on large construction sites. It provides real-time reporting and management of personnel and assets. TokenMe is GDPR compliant.

Investor support and capital utilisation

Sostark has received multiple subsidies and grants from the European Union and the Netherlands for various projects. 

It includes funding for the development of wearable systems for healthcare under Kansen voor West, support for the Crowdband project from the EIT European Institute for Innovation & Technology, and research into 5G applications for construction sites funded by Target-X.

Founder Hans van Leeuwen, says, “This investment will enable us to create the next level TokenMe product and push for very large customers in the Middle East, Northern Europe, and the USA.”

“It allows us to accelerate our 5G and AI developments, which will contribute substantially to improving the efficiency and reduction of cost. I am also excited to bring other developments from our incubator-pipeline to life.”

“These R&D products will result in additional spin-offs over the coming years and have the potential to multiply Sostark’s value several times. This investment will also drive the expansion of our development team with top-level engineering talent.”