The company reports that more than 10 million objects are registered on its network which currently spans 26 countries
Alto Invest, Salesforce Ventures, Henri Seydoux, Swen CP, Tamer Group and Total are among the new investors in wireless network provider Sigfox. The company has closed its Series E funding round of €150 million to accelerate the expansion of its global network and its aim to reach worldwide coverage.
Existing shareholders including Bpifrance, Elliott, Intel Capital, Air Liquide, Idinvest Partners and IXO, will also re-invest in the company. Additional new investors are also expected to join this financing round shortly to reach the €150 million level.
In five years, Sigfox has built a global wireless network that provides connectivity for the Internet of Things (IoT), enabling devices to connect to the cloud at ultra low-cost and using minimal energy. It claims to have more than 10 million objects registered on its network and coverage currently spanning 26 countries.
This new round of funding will enable the company to expand its international network to 60 countries by 2018 and reach financial break even point.
“When we met in 2010, we agreed that Sigfox could change the world by bringing the virtual and physical worlds together through a new paradigm based on the fundamental principles of astrophysics. Today, we have created the equivalent of the world’s largest radio telescope for IoT. Our network is able to connect hundreds of billions of objects to the Internet through advanced radio techniques.” said Ludovic Le Moan and Christophe Fourtet, co-founders of Sigfox.
The company sees Industry 4.0 as one of the main growth paths driving the development of the IoT. The need for predictive maintenance as well as the continued evolution of its business model towards more services could be some of the reasons behind Total’s decision to join other shareholders supporting Sigfox’s international development.
"We are happy to accompany the development of Sigfox because the technology it offers can be decisive to accelerate the deployment of the Internet of things. It is their advance acquired on the market in a short time and their capacity to accelerate the deployment of large-scale IoT solutions that motivated our investment", commented Patrick Pouyanné, chairman and CEO of Total. "This type of solution will improve the performance and operational safety of industrial activities, reduce operating costs, but also be used to serve customers.”
Another key opportunity is the optimisation of industrial processes leveraging big data. For this reason, Sigfox plans to integrate with Salesforce’s IoT Cloud, unlocking insights from the connected world that empower any business to take the right action, for the right customer, at the right time across global consumer and business use cases. By connecting billions of objects and events, Sigfox and Salesforce IoT Cloud can facilitate deep and meaningful customer experiences via its global, homogenous and scalable network.
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