French IoT company Actility has raised more than $17 million in new funding to continue to grow its Low-Power Wide Area Networks (LPWAN) technology for tracking and monitoring applications in enterprise markets.
One of the company’s strengths is its ThingPark Enterprise platform which has a network of 100 worldwide resellers to offer fleet tracking and patient monitoring. The company also has made such strategic investments as Abeeway, an indoor-outdoor geolocation company that offers low-power tracking solutions.
“Due to its vast-reaching and industrial nature, the maturation of IoT technology took longer than anticipated. However, we have now entered a phase of steady growth, with enterprise adoption nearly doubling each year, propelled by widespread digitization,” said Oliver Hersent, Actility CEO and founder, in a statement. “AI cannot operate without data, and our technology anchors AI to the real world across numerous industries.”
This latest round of funding, led by Bpifrance, follows the company’s $76 million investment in 2017 from Orange, KPN, Inmarsat, Foxconn and Swisscom, among other investors. The company, founded in 2010, said it used those funds to develop and deploy industrial IoT solutions, launch new roaming products and make company acquisitions.
Actility said it has connected more than 4 million devices, with ThinkPark-operated LPWAN networks operating 40,000 base stations. The company has partnered with Bouygues, one of Europe’s largest construction firms, to work on a smart city project on the Red Sea in Saudi Arabia.
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