Sigfox Technology Owner UnaBiz Doubles Series B Funding to $50M
UnaBiz, the Massive Internet of Things service provider and technology owner of Sigfox, today announced that it has raised an additional $25 million in Series B funding. This doubles the total amount in the round to $50 million, after the first tranche was announced in October 2021. Singapore-based UnaBiz has now raised $60m in total.
The financing was led by SPARX Group, a Tokyo-based investment firm, with participation from GK Goh Holdings and Optimal Investment, all returning investors. A representative from UnaBiz told TechCrunch that the new capital will prepare UnaBiz for its next stage of growth so that it can focus on conducting business and delivering to customers in 2023 regardless of economic conditions.
UnaBiz acquired the technology from Sigfox in April after the French IoT startup filed for bankruptcy. The acquisition doubled UnaBiz’s office locations and tripled its workforce to more than 240 employees. The UnaBiz rep said they closed down loss-making SigFox entities and recruited new leadership, including a chief account officer to focus on the pipeline and revenue streams, a chief operating officer to oversee operations stability and cost optimization and a chief technology officer. Its objective is to consolidate its activity more quickly.
UnaBiz plans to invest in four verticals (Utilities, Security, Facilities Management, and Supply Chain & Logistics) in Latin America, APAC, and EMEA. The funding will also be used for research and development of the company’s 0G capabilities and expand its product portfolio to include more LPWAN and satellite technologies.
In a statement on its investment in UnaBiz, SPARX Group President and CEO Shuhei Abe said, “As the owner of the most power-efficient LPWAN technology available on the market, UnaBiz is in a unique position. privileged to defend the convergence of massive IoT communication. technologies (from 0G to 5G) to help companies achieve their digitization and sustainability goals.
Leave a Reply