Two Glasgow-based entrepreneurs have launched a coin-sized computer at Mobile World Congress in Barcelona after the collapse of their £100,000 investment deal with BBC Dragon Peter Jones.

Vincenz Klemt and Raj Sark are founders of Connect-In, the start-up behind £20 gadget Xupo which uses Bluetooth 5 technology to enable users to find lost items, ring their mobile and track items on a map.

They are exhibiting and demonstrating the product – formerly known as Lupo – at MWC and are aiming to attract pre-sale orders.

Xupo allows users to connect anything to the Internet of Things and is being supported by Scottish Development International.

The Bluetooth item tracker market is estimated to reach $1billion in 2017.

“This year’s MWC will be held under the theme The New Element, and we are ready to embrace it,” said German Klemt.

“With new investment on the horizon, Connect-In is on track to develop the next system of Bluetooth Smart systems with the smartphone as the gateway to your IoT.”

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Xupo

Indian Sark added: “We are anticipating that the Bluetooth 5-ready Xupo will expand the community-sourced tracking market.”

Jones originally agreed to invest £100,000 in the product but the agreement was voided when Connect-In and Jones disagreed on market valuation.

Xupo will give the user the potential power of GPS and ability to track physical devices, vehicles, buildings, and other items on a coin-sized device running on a replaceable one-year battery.

It can be attached to anything and tracked using three features:

  • ‘find it’ – call from your mobile and find your Xupo
  • ‘call it’ – ring your phone from your Xupo
  • ‘map it’ – find lost items on a map using community tracking