Japan-based KDDI-owned IoT connectivity provider Soracom has listed on the Tokyo Stock Exchange, in the third-tier Growth Market section for emerging high-growth companies. Soracom claims to have more than 20,000 startups and enterprises on its books, connecting around six million IoT devices globally.
Its IoT connectivity platform provides a ‘single pane-of-glass’ for management and control of various types of IoT connections, including terrestrial and non-terrestrial (satellite) cellular (2G, 4G, NB-IoT, LTE-M, and in-between technologies) and non-cellular (LoRaWAN, Sigfox) solutions.
The move puts the company in position to issue fresh share capital and raise funds for growth and expansion. The Tokyo Stock Exchange approved the initial listing in February. Soracom is well regarded in the IoT space, notably for its ‘cloud-agnostic, bearer-agnostic, hardware-agnostic’ open interfaces.
It ranked among 12 IoT vendors with a ‘champion’ score in a recent assessment by market research firm Kaleido Intelligence. It has been active in the eSIM and iSIM markets, and busy with ecosystem partnerships, with the likes of satellite companies Skylo and Astrocast, and as an investor in Sigfox parent Unabiz.
It has also been proactive in vertical markets and with modish generative AI functions. It sells global cellular IoT connectivity (mostly) into the manufacturing, energy, infrastructure, automotive, agriculture, finance, and disaster prevention sectors.
A statement said: “Soracom will continue to pursue technology innovation and further business growth as a global IoT platform, accelerate our customers’ ability to deliver new connected services and products at scale, and develop the business and technology partnerships that will build a better, more connected future.”
