Actility raises $75 million to expand IoT portfolio
Actility plans to use funds to focus on industrial IoT solutions in key verticals.
French low-power wide-area networks specialist Actility completed a Series D funding round, raising $75 million to enhance its portfolio of internet of things solutions.
The company said the funds will allow it to focus on enabling industrial IoT solutions in key verticals including logistics, supply chain, smart buildings, energy and utilities.
Creadev, Bosch and Inmarsat were among the new investors alongside existing investors Idinvest, Bpifrance, Ginko Ventures, KPN, Orange Digital Ventures, Swisscom and Foxconn. A second closing later this month is expected to see additional investors in support of what was said to be an oversubscribed capital raise, which did not involve banks.
“This funding 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,” said Actility CEO Mike Mulica, in a statement. “It will also allow us to accelerate our strategy for the U.S. 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.”
Actility said its ThingPark Wireless platform combines an LPWA core network and an operations support system to manage communications between connected objects, base stations and applications. The OSS is said to allow network operators to supervise the network infrastructure, manage connectivity plans and control roles and access rights within a scalable solution. The platform is designed to support outdoor macrocells, indoor nanocell and picocells, which allows operators to use different roll out models.