Low Power Wide Area (LPWA) network specialist Actility raised $75 million in new capital, as it looks to enhance its portfolio of industrial IoT solutions across different verticals, accelerate in the US and boost its position in China.
The company, which is a co-founder of the LoRA alliance and developed its global IoT solutions on the LoRaWAN standard, raised the capital as part of its Series D funding round, which attracted a group of new investors; Creadev, Bosch and Inmarsat.
Actility said a second closing later this month would see additional strategic investors join the company “in support of this over-subscribed capital raise”.
It already counts major players as backers including KPN, Orange Digital Ventures, Swisscom and Foxconn, after raising $25 million in its Series C funding round, completed in 2015.
Actility bases its offering around its ThingPark platform, which it said is powering “most national and large scale LPWA rollouts worldwide”.
The company revealed the platform had also grown more industrial, to not only support the LoRaWAN standard, but also other standardised LPWA technologies including LTE-M and NB-IoT.
Actility plans to use the funding to enable industrial IoT solutions in three key verticals: logistics and supply chain; smart buildings; and energy and utilities.
It also said “the emergence of China as a vital market for IoT and rich source of ecosystem partners will accelerate the rapid adoption of LPWA globally”.
In a statement, Mike Mulica, CEO of Actility (pictured), said the capital will enable the company to grow its technology and ecosystem platform faster to meet demand in large verticals.
“It will also allow us to accelerate our strategy for the US, and build strength in China. And last but by no means least, it will enable us to look at strategic acquisitions to broaden our technology portfolio and cement our leadership position in LPWA,” he explained.