Laberge, France, Feb. 11, 2015: SIGFOX, the global provider of a cellular network dedicated to the Internet of Things (IoT) today announced it had secured US $115 million round of financing from strategic and financial investors in Europe, the US and Asia.
The SIGFOX network provides two-way connectivity to billions of objects. Incorporated in 2009, SIGFOX has pioneered the Low-Power Wide-Area (LPWA) connectivity space, becoming a reference player in IoT.
Over the last year, SIGFOX has been deployed in France, Spain, the United Kingdom, the Netherlands, and will be rolling out in the United States, soon.
In a written statement, SIGFOX informed that it would be using the new equity round to accelerate its worldwide network roll-out in Europe, Asia and the Americas with the support of international telecom operators (Telefonica, SK Telecom and NTT DOCOMO Ventures), a leading financial sponsor (Elliott Management Corporation) and industrial partners (GDF SUEZ, Air Liquide and Eutelsat). These new partners join the existing financial investors that have been SIGFOX’s shareholders since 2011.
“This record $115 million round is a significant step in the development of our network’s coverage all around the world. 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,” said Anne Lauvergeon, SIGFOX’s Chairman.
This strategic investment, which includes leading mobile network operators, clearly demonstrates how SIGFOX’s two-way low-throughput network complements existing high-bandwidth networks. The company sees a clear path towards unifying them in a single network, allowing always-efficient connectivity from both energy and throughput standpoints.
Besides the value and the operational know-how brought by its new telecom partners, SIGFOX will also benefit from the help and experience of leading global industrial players to enable large-scale deployments of connected devices and sensors. The presence of these leading players, alongside its telecom partners, will be SIGFOX’s most valuable asset to sell innovative IoT offers.
Existing financial investors, Elaia Partners, iXO PE, Partech Ventures and Idinvest have re-confirmed their support for the company and its management by reinvesting significantly in the current round. Bpifrance also strengthened its holding in SIGFOX and confirmed its commitment to the company through its Ambition Numérique (Digital Ambition) and Large Venture funds.
The round comprises a first close of US $93 million and a “greenshoe” of US $22 million that will allow new strategic partners to join the share capital of SIGFOX in the next few months, the company said.
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Image Credit: SIGFOX
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