Sigfox, France’s biggest venture capital raises $115 M for its Io T wireless network expansion

What does Sigfox do?

Sigfox is a startup based in southwest of France, it is the first and in fact the only company which provides global mobile connectivity for the Internet of Things, dedicated completely to low throughput communications. It is re-inventing connectivity by reducing the prices radically and the consumption f energy for the connected devices.

How much Sigfox funded?

Sigfox has raised $115 million to fund its wireless network expansion globally, which is dedicated for connecting Internet of Things devices. It has received $115 million in series D funding on February 11^th 2015. The $115 million will  not only accelerate the growth of SigFox, but it will secure its place in the list of Europe’s hottest startups.

Previous funding

• 10m pounds in Series B funding on September 11^th 2012 from investors Intel Capital, IXO Private Equity, Elaia Partners, Partech Ventures.
• 15 m pounds in Series C funding on march 28^th, 2014 from investors BpiFrance, Intel Capital, Partech Ventures, Idinvest Partners.

What’s next of Sigfox?

Ludovic Le Moan, Sigfox’s chief executive said the company can work with other partners and provide a network which will help them achieve the world vision with more connected devices. He said that it was not easy for the company to start raising this round as they had no idea what the market would be like.

The company has plans to expand soon to USA and Asia. It is working on deals with local telecom companies. SigFox currently has 3 person team in San Francisco but hopes to hire 30 or more people in the USA and open an office in the east coast to launch its service.

More of Sigfox

Sigfox is one of France’s biggest names in this field by creating a cell network which is designed specifically for providing a reliable method for smart devices for sending and receiving data. Sigfox has built in partnerships in France, UK, Spain and Netherlands. Overall it has 80 employees.