IoT Startup iWire Raises $ 34 Million Series A
- United Arab Emirates-based Internet of Things (IoT) startup iWire has raised $ 34 million Series A funding round led by Noor Capital with participation from French public investment bank Bpifrance .
Founded in 2018 by Vyomesh Thakkar, Ahmed Fasih Akhtar and Firoz Karumannil, iWire focuses on Build a public communications infrastructure that powers IoT in the UAE, to enable digital transformation at a lower cost of ownership.
This new investment will allow iWire to accelerate its development and enter new markets in 12 countries.
iWire, a United Arab Emirates-based Internet of Things (IoT) startup, has raised a $ 34 million Series A funding round, led by Noor Capital, with participation from Bpifrance.
Launched in April 2018, iWire builds nationwide communications networks to power massive IoT solutions. The IoT network enables large-scale businesses such as utility companies, smart cities, smart facilities, and logistics service providers to deploy massive IoT solutions in a fast, cost-effective and highly scalable manner.
Ahmed Fasih Akhtar, CEO of iWire, said: “At iWire, we offer our customers an alternative to traditional connectivity solutions, which enables successful digital transformation at a lower cost of ownership. Our solutions contribute to the commercial efficiency of our customers as well as to their satisfaction. This investment is just the start of our journey and a big sign that we are on the right track. We are proud to have the confidence of such an investor and will continue to expand our network and products to transform the region’s digital infrastructure.
Jeremy Prince, CEO of Sigfox, added: “Businesses and organizations around the world are embracing IoT and 0G to transform the way they operate. We are thrilled to have a great company like iWire among our amazing community of Sigfox operators. Our unique international network already allows customers to benefit from 0G seamlessly in more than 72 countries. The new markets that iWire adds offer enormous potential and we look forward to a very fruitful collaboration.
The funds will allow iWire to accelerate its development and enter new markets over the next few years, and expand its geographic presence in 12 countries, building the digital communications infrastructure to power the massive IoT.