Wirepas, a Tampere, Finland—based maker of a wireless connectivity platform enabling broad adoption of Industrial Internet of Things (IIoT), raised €14.4m in funding.
Backers included ETF Partners, Inventure, KPN Ventures, TESI (Finnish Industry Investment) and Vito Ventures.
The company, which has raised a total fo €22 to date, intends to use the funds to continue to expand product development efforts and its business reach.
Founded in 2010 as a spinoff from Tampere University, and led by Teppo Hemiä, CEO, and Andrew Gilbert, Chairman of the board, Wirepas provides a hardware-independent radio communications protocol based on a de-centralized network topology, using a software licensing model.
The company has built an ecosystem of semiconductor, module partners, OEMs and System Integrators to serve end users around the globe resulting in millions of Wirepas enabled devices shipped. Today, Wirepas Mesh is being used to connect smart meters, lights and other assets in supply chain and logistics to deliver the data needed by enterprises to boost their competitiveness and sustainability.
The company employs approximately 50 people in 9 countries.
Customer include over 100 companies.