HomeConnectivityIoT firm Thinxtra gets financing from Australian government

IoT firm Thinxtra gets financing from Australian government

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The firm aims to deploy an IoT network in Australia and New Zealand covering 95% of population by the end of 2017

The Clean Energy Finance Corporation (CEFC), which manages the Australian government’s Clean Energy Innovation Fund, has invested $7.9 million in Thinxtra, an Australian provider of internet of things (IoT) infrastructure.

The Australian firm aims to complete the deployment of an IoT network in Australia and New Zealand, which will cover 95% of the population by the end of this year. Thinxtra’s network deployments are based on Sigfox technology.

“Our low cost, low power, long range IoT network is perfect for deploying simple solutions to make cities smarter, buildings more energy efficient, agriculture more sustainable.  Industries working with us are seeing efficiency but also gaining deep insights and better service outcomes for their customers,” Renald Gallis, VP marketing and ecosystem at Thinxtra, said. “We estimate the Australian market to represent 100 million IoT devices connecting through our network by 2025, to better monitor the country, further cut carbon emissions, create innovation and boost the economy.”

“Australia is a vast country with a scattered population. A large amount of energy is expended in physically monitoring millions of pallets, waste containers, gas canisters, farm gates, livestock and more. By providing a low-cost solution for tracking and monitoring these assets, we can save a huge amount of emissions,” CEFC CEO Ian Learmonth, said.

“Our finance for Thinxtra will help build essential support technology which is set to play a key role in transitioning the Australian economy to net zero emissions by the second half of the century. We’re talking about the potential to operate smarter cities, more energy efficient and liveable buildings, better monitoring of environmental assets, better health monitoring and more sustainable agricultural practices,” Learmonth added.

Thinxtra’s CEO, Loic Barancourt, said that the firm’s IoT network is complementary to Bluetooth, RFID, 2G, 3G, 4G and WiFi technologies. “Our network has been designed with IoT in mind. It is open and an extension of the global Sigfox network, based on antennae and base station infrastructure that is independent of existing telco networks,” the executive said.

More than 150 companies in Australia and New Zealand have already partnered with Thinxtra to leverage its network technology to create operational efficiencies in a wide range of industries, such as smart water meter service companies, smart farming service providers and logistics solution providers.

The CEFC also invests with co-financiers to develop new sources of capital for the clean energy sector, including climate bonds, equity funds, aggregation facilities and other financial solutions

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