Actility raises US$ 75 million in new capital
Actility, a Low Power Wide Area (LPWA) network specialist, raised US$ 75 million (EUR 70 million) in new capital, as it looks to enhance its portfolio of industrial IoT solutions across different verticals, accelerate in the US and boost its position in China. Being a co-founder of the LoRA alliance and developing its global IoT solutions on the LoRaWAN standard, the company raised the capital as part of its Series D funding round that attracted a group of new investors such as Creadev, Bosch and Inmarsat.
With the aims to see additional strategic investors join the company, Actility plans on executing a second closing. Backed by major players such as KPN, Orange Digital Ventures, Swisscom and Foxconn, the company raised US$ 25 million (EUR 23 million) during its 2015 series c funding round.
The offerings of the company are based around its ThingPark platform, popular for powering the “most national and large scale LPWA rollouts worldwide”, claimed by the company. Further statements include the industrial growth of the platform to not only support the LoRaWAN standard, but also other standardized LPWA technologies including LTE-M and NB-IoT. Furthermore, the company plans to use the funding to enable industrial IoT solutions in three key verticals: logistics and supply chain; smart buildings; and energy and utilities.