Spark buys 38% stake in IoT firm

Henry Burrell
Tue, 22 Mar 2022

Adroit founder Ulrich Frerk. (Image: supplied)
Adroit founder Ulrich Frerk. (Image: supplied)
Henry Burrell
Tue, 22 Mar 2022
Spark has taken a minority shareholding of about 38% in internet of things (IoT) company Adroit for an undisclosed sum.Adroit started as a consultancy and product development business before becoming an end-to-end IoT provider in 2019. Its technology is used in New Zealand industry to monitor the chemical content of water in streams, rivers, and salmon farms, measure noise and dust on worksites for safety compliance, and check air quality in warehouses amongst other use cases.Adroit raised $450,000 at 97.61 cents a share in August last yea...

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