French firm Actility, a specialist in low-power wireless networks for the Internet of Things (IoT), secured a $25 million funding round which included three European operators and Foxconn.
The round was led by Ginko Ventures and numbered operators KPN, which says it has acquired a minority stake in Actility; Orange, which invested €3 million; and Swisscom, with which Actility recently concluded a technology partnership.
The list also includes BPI, Electranova and Truffle Capital.
Actility will use the funds to accelerate its go-to-market strategy for ThingPark, its open standard IoT network solution; funding its operational resources, building service levels and continuing to develop technology partnerships, it said.
ThingPark is an integrated platform for nationwide IoT, “designed to enable IoT services for any market sector, offering ready-to-go IoT connectivity plus a full set of ready-to-sell applications in less than one month,” the statement added.
The product is a Low Power Wide Area (LPWA) radio network built on the LoRaWAN standard, developed and supported by the LoRa Alliance, a group of players which support a global standard for long range low power (LoRa) connectivity and enabling IoT, machine-to-machine, smart city and industrial applications.
KPN is a founding member of the alliance and plans to introduce LoRa in the Netherlands before the end of the year.