Sigfox investment from industry and telcos
Sigfox, which specializes in “Internet of Things” and machine to machine networking, this week announced a round of funding that brought in $115 million.
The company plans to use the new financing to deploy dedicated IoT networks in Europe, Asia and the Americas.
France-based Sigfox drew investment from the telecom and industrial sectors; from the telecommunications space, Sigfox garnered investment from NTT DoCoMo, SK Telecom and Telefonica. From industry, GDFSuez, Air Liquide and Eutelsat all invested in the Sigfox funding round.
Sigfox spokeswoman Amélie Ravier wrote in an e-mail, “These new investors give Sigfox a worldwide footprint. Moreover, other telcos will be welcome to join as capital participants in the future with the objective of standardizing the Sigfox technology during the company’s worldwide rollout.”
Sigfox, known for its low-power wide-area two-way connections, has deployed networks in France, Spain, the U.K. and the Netherlands.
“This record $115 million round is a significant step in the development of our network’s coverage all around the world,” Sigfox chairman Anne Lauvergeon said in a statement.
“The trust of our investors and the dynamism of Sigfox’s team allow us to strengthen our position as the world leader in IoT communications,” she said.
The D-series round of funding was overseen by Elliott Management.
Company representatives said in a statement: “Elliott is very pleased to be part of this equity round in the leading IoT dedicated-network company. We look forward to contributing actively to SIGFOX’s deployment in the U.S. and worldwide.”
Air Liquide Group is a French multinational that deals in industrial applications of gases.
In a statement, the company said of its investment, “Sigfox’s technology and network, thanks to its significant deployment, perfectly suits our needs for a part of our smart devices, especially in terms of energy efficiency for long-distance communication.”
Eutelsat Director of Strategy Jean-Hubert Lenotte said the company’s investment “signals our conviction that satellites can accelerate the development of the IoT market, both in terms of reach and reliability.”
