French Internet of Things specialist Actility has secured $25m in new funding from a number of firms led by Ginko Ventures. Other investors include major mobile network operators KPN, Orange, Swisscom, along with manufacturer Foxconn. Existing investors include Fonds Ecotechnologies, managed by Bpifrance Investissement, Idinvest Partners, and Truffle Capital.
Actility said the new investment will allow it to accelerate its go-to-market strategy for ThingPark, its open standard IoT network solution; funding its operational resources, building a high level of service and continuing to develop technology partnerships to foster a healthy ecosystem. It follows a recently concluded technology partnership between Actility and Swisscom.
Actility’s ThingPark is a fully integrated platform for nationwide IoT provision and is designed to enable IoT services for any market sector, offering ready-to-go IoT connectivity plus a full set of ready-to-sell applications in less than one month.
It is a Low Power Wide Area (LPWA) radio network built on the LoRaWAN standard, developed and supported by the LoRa Alliance. LoRaWAN networks address the three critical elements required for IoT networks connecting billions of devices: low power, long range, and low cost. ThingPark represents the first end-to-end, LoRaWAN interoperable platform to serve the IoT market for every use case, according to Actility.
“Today’s wireless technologies are not optimized for IoT applications which require sensors to be low power and able to run on a battery with very little maintenance. ThingPark provides the technology to connect both long range and low power sensors over unlicensed ISM band spectrum, allowing low cost and fast roll-out of IoT networks for a wide range of IoT applications,” said Olivier Hersent, founder, CEO and CTO, Actility.