Cellular IoT network provider SIGFOX has announced a record $115 million round of financing from strategic and financial investors in Europe, the U.S. and Asia.
With support from telecom giants Telefonica, NTT and SK Telecom, SIGFOX plans to use this new equity round to accelerate its worldwide network roll-out in Europe, Asia and the Americas.
Claimed by the company to be the most cost-effective and energy-efficient way to provide two-way connectivity to billions of objects, the SIGFOX network pioneered the Low-Power Wide-Area (LPWA) connectivity space and has become a reference player in IoT.
The network has already been deployed in France, Spain, the United Kingdom, and the Netherlands, with plans to expand to the US already in the pipeline.
"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.
In addition to partnering with the established telecoms players, SIGFOX has also named GDF SUEZ, Air Liquide and Eutelsat as industrial partners, while Elliott Management Corporation takes the role as financial sponsor.
The round comprises a first close of $93 million and a "greenshoe" of $22 million that will allow new strategic partners to join the share capital of SIGFOX in the next few months. Lazard acted as financial advisor to SIGFOX, with Granrut Avocats acting as legal advisor.
