Bengaluru: One of the world’s leading provider of connectivity for the Internet of Things (IoT) – Sigfox, announces its €150 million Series E funding from new investors – Alto Invest, Salesforce Ventures, Henri Seydoux, Swen CP, Tamer Group and Total, along with existing shareholders – Bpifrance, Elliott, Intel Capital, Air Liquide, Idinvest Partners and IXO. This funding will accelerate the expansion of Sigfox’s global network and setting up worldwide coverage.
Speaking on the occasion, Xavier Drilhon, Deputy CEO of Sigfox, says, “Our rapid international expansion made possible thanks to the support of our local operators, as well as the growth of our ecosystem, were key to securing this new fundraising. This will allow the company to accelerate the deployment of its network from 26 countries today to over 60 within the next two years, representing 90 per cent of the worldwide GDP”.
Founded in 2010 by Ludovic Le Moan and Christophe Fourtet, Sigfox is headquartered in Labège near Toulouse, France’s ‘IoT Valley’. Sigfox’s technology, device-to-cloud communications manages the three barriers of global IoT adoption: cost, energy consumption, and global scalability. Today, the network is present in 26 countries and aims to extend it to 60 countries by 2018, covering approximately 397 million people.
“Sigfox could change the world by bringing the virtual and physical worlds together through a new paradigm based on the fundamental principles of astrophysics. Today, we have created the equivalent of the world's largest radio telescope for IoT. Our network is able to connect hundreds of billions of objects to the Internet through advanced radio techniques,” says Ludovic and Christophe.