Wirepas, a Finnish company on a mission to change enterprise IoT, on Wednesday announced an injection of funds aimed at accelerating the development of the world’s first purpose-built non-cellular 5G technology.
On the heels of announcing the product and new standard in May, Wirepas, currently servicing several world-leading clients, has seen an increased interest and demand from partners and customers to bring the product to market. Existing investors Karma and Tesi are rising to the occasion, providing a new injection of appr 10M euros.
More specifically, the funds will be used to strengthen Wirepas’ longer-term research and to further develop the leading Massive IoT technology. Wirepas will also be hiring with a focus on development, testing and delivery, all aspects needed to successfully bring the solution to market.
The demand for affordable networks is high for businesses looking for scalable, high-density applications in a multitude of areas such as smart meters, building management systems, logistics and smart cities. More specifically, it will assist in the urbanization, building, and energy consumption in the construction of these smart cities. It also opens opportunities for new use cases, scaling at mass the levels of communication for future.
Wirepas’ current solution, Wirepas Massive, a large-scale mesh connectivity software for massive IoT, is already proving invaluable, scalable, reliable, and cost-efficient IoT solutions for over two hundred clients including Fujitsu, Prologis, Wurth, Schaeffler, Orange and Fagerhult.
Teppo Hemiä, CEO of Wirepas
Thanks to the great market interest and lead customers’ fast time to market targets, we have decided to accelerate the first non-cellular 5G product development. We knew our solution was special and the need has become even more apparent and urgent over the past several months.
Tommi Uhari, Partner at Karma
Karma focuses on deep tech and the impact it can have. Wirepas, with its solid team, technical strength, massive traction, and amazing steps in 5G, is in an ideal phase to benefit from more funding.
