Actility raises $75m to boost IoT portfolio
New backers for the LPWAN solutions provider include Inmarsat, Bosch and Creadev
Low power, wide area networks solutions provider (LP-WAN) Actility has raised $75 million in new capital to boost its portfolio of Internet of Things (IoT) products.
New investors at the first closing included Inmarsat, Bosch and Creadev, who invested alongside existing partners including Orange Digital Ventures, KPN, Swisscom, Foxconn, Idinvest, Bpifrance, and Ginko Ventures. Actility will also see a second closing later this month, it said.
The latest round of financing will see the company expand its range of solutions across industry in key verticals, including: logistics and supply chain; smart buildings; and energy and utilities.
Actility’s IoT solution is based on Long Range wide area networks, or LoRaWAN, powering a number of LPWA rollouts globally through its ThingPark platform. ThingPark supports LoRaWAN, barrowband IoT (NB-IoT), and LTE-M.
Pierre Louette, deputy CEO of Orange and president of Orange Digital Ventures said: “We are happy to be strengthening our support for Actility through this new fundraising round, which clearly demonstrates the ability of corporate venturing to help scale-up innovative new companies. Orange Digital Ventures was an early believer in Actility’s management team and in the potential of LoRaWAN technology; this confidence has now been confirmed as the company continues to expand internationally.
“Today, Orange is one of Actility's main customers in France and we hope to extend this partnership in other countries across our footprint in Europe and Africa. We are convinced that a growing number of industries will imagine powerful industrial use-cases that are made possible through Actility’s market-leading platform. Orange will continue to lend its support in bringing such IoT solutions to its enterprise customers. We are not at dawn of the next industrial revolution -- we are already in it!”
It comes just weeks after Actility named former Federal Communications Commission chair Tom Wheeler as one of its directors.
“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.”