French technology group Sigfox, which is building a wireless network for connected devices, has launched a new funding round to raise €150m for further international expansion.
Salesforce, the US software company, has invested in the business and Sigfox will, as a result, integrate with its new shareholder’s internet of things cloud service, writes Nic Fildes.
Other new investors include Henri Seydoux, the founder of the Parrot drone maker and father of actress Lea Seydoux.
Sigfox is a dedicated wireless network to support internet of things technology where sensors installed in devices – from CCTV cameras to tractors to road signs – communicate with each other.
The French company competes with traditional telecoms players including Vodafone in the burgeoning market for connectivity. There are 10m devices connected to Sigfox across 26 countries. The new funds will expand its geographical reach to 60 countries.
“We have created the equivalent of the world’s largest radio telescope for IoT [internet of things],” said Ludovic Le Moan, chief executive and co-founder of Sigfox.
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