The round was led by Craft Ventures and Sky Dayton, founder of EarthLink and Boingo, with participation from Social Capital, 4DX Ventures and NJF Capital.
The company will use the capital to accelerate software and hardware integrations for customer deployments, to continue hiring talent, and to deploy a constellation of 150 satellites over the next 18 months.
Led by co-founder and CEO Sara Spangelo, and co-founder and CTO Ben Longmier, Swarm has developed a small two-way communications satellites to enable low-cost, space-based, IoT connectivity anywhere in the world with applications for the agriculture, maritime, energy, and ground transportation industries as well as for global aid organizations. Sample applications of its ability to make IoT data widely available on a global scale include:
– Diagnostics and emergency messages from connected vehicles
– Agriculture sensors in farmlands outside of cellular range
– Shipping containers and asset tracking across oceans
– Water monitoring devices in remote African communities
– Smart meter reporting in remote locations
– Connecting people through text messaging in rural and remote areas.
The company has raised more than $28M from leading technology investors.
FinSMEs
24/01/2019