Sigfox, a leading provider of long range low power connectivity for the Internet of Things, announced it is closing a €150 million Series E round at a valuation of €600 million ($637 million) to accelerate the expansion of its global network.
New investors Alto Invest, Salesforce Ventures, Henri Seydoux, , Swen CP, Tamer Group and Total will join existing shareholders including Bpifrance, Elliott, Intel Capital, Air Liquide, Idinvest Partners and IXO, will also re-invest in the company. Additional new investors are also expected to join this financing round shortly to reach the €150 million level.
The company boasts10 million objects registered on its network across 26 countries. This new round of funding will enable the company to expand its international network to 60 countries by 2018 and reach financial breakeven point.