French Actility, which provides Low Power Wide Area Networks (LPWAN) for the internet of Things (IoT), has completed a $75 million Series D funding round. Creadev, Bosch and Inmarsat are among the new investors in the round, with existing investors also participating including Idinvest, Bpifrance, Ginko Ventures, KPN, Orange Digital Ventures, Swisscom and Foxconn.
The company has seen demand for IoT solutions growing rapidly around the world. It ancitipates that the emergence of China as a vital market for IoT will accelerate the rapid adoption of LPWA technology globally.
Actility says it will use the funding to expand the its portfolio of industrial IoT solutions in key verticals: logistics and supply chain; smart buildings; and energy & utilities.
“This fundraising will enable us to grow our IoT technology and ecosystem platform faster to meet the needs of service providers, solution providers and enterprises in large industry verticals, for example rolling out our disruptive global location and tracking service more quickly,” explains Actility CEO Mike Mulica. “It will also allow us to accelerate our strategy for the US, and build strength in China. And last but by no means least, it will enable us to look at strategic acquisitions to broaden our technology portfolio and cement our leadership in LPWA.”
Read more: Business Wire (Press release)