SigFox just closed a $113 million funding round to accelerate the roll out of their IoT network to 60 countries over the next 5 years. A huge sum for a venture investment – probably the biggest ever in France – though to compete with network providers across the world, they are going to need the cash. IoT network rollout is becoming a land grab and the work that Sig Fox has done in France, Spain and most recently with Arqiva in the UK is interesting and shows promising results, they simply can’t take over the world at that pace.
SigFox were one of our Ones to Watch at the first IoT Forum so great to see we can spot an interesting business early on. If you want to show off your company at our next IoT Forum, time is running out.
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Very interesting the 100E is the biggest French VC activity ever. Perhaps they spend too much on wine and fancy offices.
That’s a large amount of money, but it’s funny that $113 million is likely the largest French VC investment. Based on what Sigfox has done with its previous rounds, that doesn’t sound like near enough money for a worldwide rollout.
You need a lot of money to roll out big infrastructure plays. It is a lot of cash and will strengthn the balance sheet which means they increase likelihood that telcos can work with them as well as funding Sales and Marketing etc.