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Salesforce, Total, Intel & Others Back Sigfox with €150 million Funding

Salesforce, Total, Intel & Others Back Sigfox with €150 million Funding Image Credit: Sigfox

French Internet-of-Things(IoT) start-up, Sigfox has raised €150 million ($USD160 million) to accelerate the expansion of its global network and soon reach worldwide coverage.  

This new round of funding will enable the company to expand its international network to 60 countries by 2018 and reach financial breakeven point.

Sigfox said its new investors include France’s Total, Salesforce and Henri Seydoux that will join the company's existing shareholders such as Intel, Bpifrance, Elliott and Air Liquide.

Sigfox claims that in just five years it has built a unique global wireless network that provides a simple, efficient connectivity solution, enabling devices to connect to the cloud at ultra low-cost and using minimal energy. 

The company sees Industry 4.0 as one of the main growth paths driving the development of the IoT. Another key opportunity is the optimisation of industrial processes leveraging big data.

For this reason, Sigfox plans to integrate with Salesforce’s IoT Cloud, unlocking insights from the connected world that empower any business to take the right action, for the right customer, at the right time across global consumer and business use cases. By connecting billions of objects and events, Sigfox and Salesforce IoT Cloud can facilitate deep and meaningful customer experiences via its global, homogenous and scalable network, said the company.

Patrick Pouyanné, Chairman and Chief Executive Officer of Total
We are happy to accompany the development of Sigfox because the technology it offers can be decisive to accelerate the deployment of the Internet of things. It is their advance acquired on the market in a short time and their capacity to accelerate the deployment of large-scale IoT solutions that motivated our investment.

Franck Tuil, Elliott’s Senior Portfolio Manager
We strongly believe that Sigfox has unlocked the IoT connectivity bottleneck and will bring billions of objects online in the near future. Its cost effective, easy to use, open platform solution is set to become the standard for low power object connectivity, bringing massive productivity gains to the corporate world and everyday benefits to end customers.

Author

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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