Another shot-of-life for ultra-narrowband IoT technology Sigfox, on life support 18 months ago, until Singapore-based firm Unabiz plowed-in money, reinvented its business model, embarked on a charm offensive, and breathed new life and hope into its ailing ecosystem. The news this week from the Sigfox camp is that WND, the key Sigfox operator in the Latin America region, which quit its UK operation following the Sigfox fallout in 2022, has secured fresh capital funds from local private equity firm Mesoamerica Investments – or from its founder and chief executive, at least.
A press statement does not make clear whether the new money is from Mesoamerica Investments or from Luis Javier Castro, who leads the firm – or whether there is any difference, in fact. It does not mention the size of the investment, either. None of which stopped WND from calling it a “milestone” which “reinforces its leadership in the IoT market”. WND’s Sigfox network covers a “significant part” of the local population, it said.
The company, founded in 2016, claims “agreements for the implementation of” Sigfox infrastructure “that connects” over 320,000 electricity meters in the country. These are all commissioned by the state-owned Comisión Federal de Electricidad (CFE) electric utility in Mexico. Castro, a prominent figure on the venture scene in Latin America for 25 years, joins WND as an advisor, as well as an investor.
Castro has focused on renewable energy, telecoms, hospitality, and agriculture. He is a member of the board at power utilities Bogotá Energy Group and Codensa, and has cultivated a reputation as a supporter of sustainable and entrepreneurial innovation projects. Daniel Philippe Guevara, director general of WND Mexico, commented: “We are honoured to have Luis Javier Castro join us as a strategic investor and advisor. His extensive experience and commitment to sustainability perfectly complement our mission to connect the real world and generate valuable data.”
