Finland, September 1, 2021: Finnish IoT company Wirepas, has announced an injection of funds aimed at accelerating the development of the world’s first purpose-built non-cellular 5G technology.
It said in a press release that the company had seen an increased interest and demand from partners and customers to bring the product to market. Existing investors Karma and Tesi are rising to the occasion, providing a new injection of approx. 10 million euros.
“This new injection of funds will help us continue to do what’s in our customers best interest, and that’s getting it done efficiently and as soon as possible. We target to have the commercial launch in 2022,” said Teppo Hemiä, Chief Executive Officer of Wirepas in a written statement.
More specifically, the funds will be used to strengthen Wirepas’ longer-term research and to further develop the leading Massive IoT technology. Wirepas will also be hiring with a focus on development, testing and delivery, all aspects needed to successfully bring the solution to market.
Image credit: Wirepas