SIGFOX, the world’s premier provider of a cellular network dedicated to the Internet of Things, today announced it has secured a record $115 million round of financing from strategic and financial investors in Europe, the U.S. and Asia.
The SIGFOX network is the most cost-effective and energy-efficient way to provide two-way connectivity to billions of objects. Incorporated in 2009, SIGFOX has pioneered the Low-Power Wide-Area (LPWA) connectivity space and has become a reference player in IoT.
Following the deployment in France, Spain, the United Kingdom, the Netherlands and soon the United States, SIGFOX will use this new equity round to accelerate its worldwide network roll-out in Europe, Asia and the Americas with the support of international telecom operators (Telefonica, SK Telecom and NTT DOCOMO Ventures), a leading financial sponsor (Elliott Management Corporation) and industrial partners (GDF SUEZ, Air Liquide and Eutelsat). These new partners join the existing financial investors that have been SIGFOX’s shareholders since 2011.
Anne Lauvergeon, SIGFOX’s chairman, said:
“This record $115 million round is a significant step in the development of our network’s coverage all around the world. The trust of our investors and the dynamism of SIGFOX’s team allow us to strengthen our position as the world leader in IoT communications.”
This strategic investment, which includes leading mobile network operators, clearly demonstrates how SIGFOX’s two-way low-throughput network complements existing high-bandwidth networks. The company sees a clear path towards unifying them in a single network, allowing always-efficient connectivity from both energy and throughput standpoints.
The participation of Elliott Management Corporation bears testimony to the huge value-creation potential in the IoT sector, especially for leading players in the field like SIGFOX. “Elliott is very pleased to be part of this equity round in the leading IoT dedicated-network company,” the firm said in a statement. “We look forward to contributing actively to SIGFOX’s deployment in the U.S. and worldwide.”
Besides the value and the operational know-how brought by its new telecom partners, SIGFOX will also benefit from the help and experience of leading global industrial players to enable large-scale deployments of connected devices and sensors. The presence of these leading players, alongside its telecom partners, will be SIGFOX’s most valuable asset to sell innovative IoT offers.
For GDF SUEZ, the SIGFOX offer will enable new developments in the fields of energy management, energy efficiency and sustainable cities: three priority areas in the Group’s innovation strategy.
ALIAD, the corporate venture capital arm of Air Liquide Group, said in a statement that:
“SIGFOX’s technology and network, thanks to its significant deployment, perfectly suits our needs for a part of our ‘smart’ devices, especially in terms of energy efficiency for long-distance communication.”
“Eutelsat’s investment in SIGFOX signals our conviction that satellites can accelerate the development of the IoT market, both in terms of reach and reliability,” said Jean-Hubert Lenotte, director of strategy at Eutelsat.
“Eutelsat is constantly looking at innovative developments that push back the boundaries of our markets, add value for our customers and anchor satellites in an increasingly connected economy. SIGFOX has assembled a unique and compelling solution for the IoT market. We look forward to contributing to their growth and participating in their experience and entrepreneurial development.”
Existing financial investors, Elaia Partners, iXO PE, Partech Ventures and Idinvest, confirmed their support for the company and its management by reinvesting significantly in the current round. Bpifrance also strengthened its holding in SIGFOX and confirmed its commitment to the company through its Ambition Numérique (Digital Ambition) and Large Venture funds.
“We strongly believe SIGFOX can be a future global player in the Internet of Things, and we are delighted to accompany its growth and increase our investment,” said Paul-François Fournier, director of innovation at Bpifrance.
“Since creating the LPWA space three years ago, SIGFOX has become the leading global solution for IoT connectivity,” said Ludovic Le Moan, CEO of SIGFOX. “This investment round recognizes those achievements and highlights the company’s potential to become the worldwide standard for small-message-based connectivity.”
The round comprises a first close of $93 million and a “greenshoe” of $22 million that will allow new strategic partners to join the share capital of SIGFOX in the next few months. Lazard acted as financial advisor to SIGFOX, with Granrut Avocats acting as legal advisor.