UnaBizthe Massive Internet of Things service provider and owner of Sigfox, announced today that it has raised an additional $25 million in Series B funding. This doubles the total amount of the round to $50 million, after the first installment announced in October 2021. Singapore-based UnaBiz has now raised a total of $60 million.
The financing was led by SPARX Group, an investment company based in Tokyo, with participation from GK Goh Holdings and Optimal Investment, all returning investors. A UnaBiz representative told australiabusinessblog.com that the new capital will prepare UnaBiz for the next phase of growth so it can focus on driving commercial activity and customer delivery in 2023, regardless of economic conditions.
UnaBiz acquired Sigfox in April after the French IoT startup filed for bankruptcy protection. The acquisition doubled UnaBiz’s office locations and tripled its workforce to more than 240 employees. The UnaBiz representative said it has closed SigFox’s loss-making entities and brought in new executives, including a chief customer officer to focus on pipeline and revenue streams, a chief operating officer to oversee the stability of the operation and cost optimization and a chief technology officer. The aim is to consolidate its activities more quickly.
UnaBiz plans to invest in four verticals (utilities, security, facilities management and supply chain and logistics) in Latin America, APAC and EMEA. The funding will also be used for research and development for the company’s 0G capabilities and to expand its product portfolio to include more LPWAN and satellite technology.
In a statement on its investment in UnaBiz, SPARX Group President and CEO Shuhei Abe said, “As the technology owner of the most energy-efficient LPWAN technology available on the market, UnaBiz is uniquely positioned to accelerate the convergence of promote mass IoT communication. technologies (from 0G to 5G) to help enterprises achieve their digitalization and sustainability goals.”