The deal is part of a AUS$20m Series B round, which values the company at approx. AUS$66m.
Led by CEO Loic Barancourt, Thinxtra provides IoT network and solutions (based on Sigfox technology) that work over long distances, inexpensively on low bandwidth for short messages. Primary use cases are meter index readings, quality measurement, GPS, temperature, movement, access, vibration and power status.
Its IoT network is complementary to Bluetooth, RFID, 2G, 3G, 4G and Wifi technologies.
More than 150 local businesses have already partnered with the company to leverage its network technology in a wide range of industries, including:
– Smart water meter service companies that enable large water users to detect leaks
– Smart farming service providers with waterproof data communicators that integrate with software and sensors to provide daily data on soil, weather and other environmental monitoring
– Smart logistics solution providers with cold chain monitoring trackers to increase traceability of food and reduce wastage.