Semtech Invests in myDevices


Jan 12 2017

Semtech Corporation (NASDAQ:SMTC) announced on Thursday that it had completed an investment of "approximately" $3 million into myDevices, a company dedicated to creating IoT solutions.

myDevices plans to use this first publicly announced funding round to improve and expand upon its visual-based, drag-and-drop IoT application builder Cayenne.

Together, Semtech and myDevices hope to accelerate the development of smart IoT applications by creating a user-friendly platform for connecting and monitoring sensors based on Semtech's LoRa technology in low power, wide area networks.

Kevin Bromber, CEO of myDevices adds "With this partnership, Semtech and myDevices provides LoRa sensor manufacturers and LoRa network providers with the ability to bundle Cayenne for free with their product or service."



More Details

Highlights

+ LoRaWAN stands for long-rage low-power wide-area network. It refers to a protocol spectrum that allows for quickly creating public and private IoT networks anywhere.

+ Semtech and myDevices plan to let LoRa sensor manufacturers and network providers to include Cayenne with their products and services for no extra charge.

Additional Coverage

- https://iotbusinessnews.com/2017/01/06/30928-semtech-announces-investment-mydevices/

- http://www.reuters.com/article/idUSFWN1EV0QB

- https://globenewswire.com/news-release/2017/01/05/903874/0/en/Semtech-Announces-Investment-in-myDevices-For-Commercialization-of-IoT-Applications.html


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