Simulity Labs, a Bangor, Wales, UK-based Internet of Things (IOT) development company, completed a £4m growth funding round.
Foresight Group made the investment via Foresight VCT.
The company intends to use the funds to continue to grow its existing SIM and SIM operating system market share targeting Tier1 Smart Card OEMs and Module Vendors as well as expand into new markets.
Founded in 2009 by Stephane Fund, CEO, Simulity Labs is an IoT technology company providing embedded communications software for SIM, eSIM and next generation connected products.
The company – which also operates offices in Belfast and Cape Town – serves a worldwide customer base including over 45 mobile network operators, delivering software for over 5 million SIM cards a month.