UnaBiz, an enabler of the massive Internet of Things (IoT) and the owner of Sigfox technology, recently announced that it had secured another $25 million in Series B funding.
With this funding, the total amount raised during this round stand at $50 million, following the first tranche, which was announced in October 2021. With this new funding, the total raised by the firm now stands at $60 million.
SPARX Group, an investment company, based in Tokyo, headed the funding round with participation from Optimal Investment and G K Goh Holdings, both of them being returning investors.
Sources claim that this additional funding will position UnaBiz for the next growth phase while prioritizing driving commercial activities and client delivery in 2023 without considering present economic conditions. In April, UnaBiz acquired Sigfox’s tech following the bankruptcy protection filed by the French IoT startup. The acquisition doubled the office locations and tripled the employee count to more than 240.
According to a UnaBiz representative, it has shut down the loss-making entities of SigFox. It has hired new executives, including a chief operating officer to supervise operations stability, a chief customer officer to focus entirely on pipeline and revenue generation and cost optimization and a chief technology officer. Its main goal is to strengthen its business more quickly.
Speaking on the latest funding, SPARX Group president and CEO Shuhei Abe stated that as the owner of the most energy-efficient LPWAN technology available currently in the market, UnaBiz is in a firm position to lead the conjunction of massive IoT communication technologies (from 0G to 5G) and assist organizations in achieving their sustainability and digitalization goals.
Furthermore, UnaBiz looks forward to investing in four leading verticals: utilities, security, facilities management, and supply chain and logistics across regions like Latin America, APAC, and EMEA. It also plans to use the funding in research and development for the company’s 0G capabilities and bolster its product portfolio to include more LPWAN and satellite tech.
Source credit - https://techcrunch.com/2022/12/07/unabiz-series-b/