Orlen VC, an Orlen Group equity fund, has invested in CTHINGS.CO, a Polish startup specialising in creating innovative solutions in 5G, industrial internet of things and cloud applications.

CTHINGS.CO specialises in developing solutions for the needs of modern industry in 5G, the internet of things and edge computing (allows data to be stored and processed locally – closer to the point where it is generated).

The start-up works with global mobile operators and cloud infrastructure providers. To date, the company has been actively acquiring customers and executing contracts in Scandinavia, Germany, Austria, Spain, and Poland.

Orlen also announced that CTHINGS.CO is already the ninth company in the portfolio of Poland’s largest corporate venture capital fund. In less than two years of operation, Orlen VC has invested a total of more than PLN 200 million in technology companies across Europe and in two foreign investment funds. The corporation is already implementing projects with a Polish start-up at the Production Plant in Płock.

“We are committed to making the operation of our plants as efficient, reliable and adaptable as possible to the changing environment. That is why we respond to global trends and continually implement innovative technologies. An important role in this is played by Orlen VC, which consistently establishes cooperation with technology companies and searches for innovative projects”, said Orlen CEO Daniel Obajtek.

There is a growing interest in intelligent solutions for industry in Poland and Europe, and the Polish company is effectively responding to these needs and has good prospects for further growth. Orlen VC is planning to make an average of 5-6 direct investments per year, focusing on the most promising companies with innovative and ready-to-commercialise technologies, in line with the ORLEN2030 strategy.

Arkadiusz Słomczyński