We are thrilled to share with you another French success story: Sigfox, who just raised $115 million from seven strategic investors which are AIR LIQUIDE, ELLIOTT MANAGEMENT CORPORATION, EUTELSAT, GDF SUEZ, NTT DOCOMO VENTURES, SK TELECOM, and TELEFONICA. This amount will fund a global expansion of its Internet of Things dedicated wireless network.
This round tops the $100 million raised by the European ride-sharing leader BlaBlacar last summer, and makes Sigfox one of the hottest European startup.
While studies are predicting billions of new smart devices to be connected to the IoT in the coming decades, Sigfox has deployed a low power consumption and low-cost terrestrial infrastructure that can connect every object. This infrastructure will soon be enriched by satellite connectivity enabling Sigfox to connect objects anywhere on Earth.
“The fact that big telcos participated in the round shows that SIGFOX complements existing networks by providing either primary connectivity for objects that are under big cost or/and autonomy constraints, or backup connectivity for equipment that already has GSM, WiFi or Bluetooth connectivity.” says Sigfox Founder and CEO Ludovic Le Moan.
This new record in France’s fundraising is a new great victory for the Frenchtech, we congratulate Ludovic Le Moan and his whole team for their accomplishment!