France based IoT startup Actility has secured an investment of $25 million led by Ginko Ventures, the European investment arm of Foxconn. The participation from others included the carriers Orange, Swisscom, KPN, as well as Fonds Ecotechnologies, managed by Bpifrance Investissement, Idinvest Partners, and Truffle Capital.
The raised investment will be used to continue building onto the product, and for more business development deals both in France as well as international, as reported by TechCrunch.
Founded in 2010 by Olivier Hersent, the Paris based startup is positioned on the M2M (Machine to Machine) market and on communicating objects (Internet of Things) deployed on a massive scale in various markets segments, particularly in the energy sector. Its primary product is ThingPark, a platform based on the LoRa specification (a type of low-power wide area network specification that is used for IoT deployments where different kinds of devices may need to talk to each other with a central server), that has been developed for IoT deployments of varying sizes, from single enterprises through to entire cities.
“Today’s wireless technologies are not optimized for IoT applications which require sensors to be low power and able to run on a battery with very little maintenance. ThingPark provides the technology to connect both long range and low power sensors over unlicensed ISM band spectrum, allowing low cost and fast roll-out of IoT networks for a wide range of IoT applications,” said Olivier Hersent, Founder, CEO and CTO, Actility.