Satellite connectivity specialist Hiber detailed plans to scale its operation and advance towards a goal of supporting IoT services in the world’s most remote areas, fuelled by a €26 million cash injection from the European Union and other investors.
Hiber said its constellation would provide connectivity for tracking and monitoring of machines in some of the hardest-to-reach locations, alongside sites in developing markets.
The company is based in the Netherlands and claims to run the world’s first global IoT satellite network. Its latest cash injection came from existing backers, the Dutch government, and a share of The European Innovation Council Fund’s €278 million set aside for its latest round of investments.
It plans to use the cash to continue improving its satellite network and grow its customer base.
Hiber co-founder and chief strategy officer Coen Janssen added the backing was a “key step in realising our aim of making the Internet of Things really simple and available for everyone in remote and developing regions of the world”.
Among the potential use cases for its network, the company lists helping eliminating food waste and reducing the environmental impact of extracting fossil fuels through accurate monitoring of facilities.
The company provides the network and end-to-end IoT systems for specific business types, including agriculture, mining, and oil and gas well monitoring sectors. It already has a number of trial and customer projects in operation including with oil giant Royal Dutch Shell.
Alongside the funding, Hiber announced co-founder and MD Laurens Groenendijk was set to step aside from his role with two new additions joining its management team: CFO Steven Kroonsberg and Roel Jansen, who takes the role of CCO.Subscribe to our daily newsletter Back