Wirepas, a Tampere, Finland-based company providing fail-proof IoT networks, raised $22M in funding.
The round was led by Highland Europe, with participation from Amalfi and IQT and previous investors ETF Partners, KPN Ventures, Vito Ventures and Vesa Laisi.
The company intends to use the funds to further expand its technology and solutions globally, with a focus on becoming the standard in IoT connectivity.
Led by Teppo Hemiä, Wirepas is building large-scale and low-cost wireless IoT connectivity for enterprises across the globe. Using algorithms and a decentralised mesh technology, its networks can connect as many as 4 billion devices at once per network. By making small hops between devices rather than returning signals to a far away central hub, Wirepas’ networks use minimal amounts of the wireless spectrum extending its range and resilience, and reducing the costs and energy required to manage such networks. If one sensor goes down, Wirepas reroutes the data without interruption and the network autonomously reconfigures itself to stay online.
The company, which has expanded globally with offices in Australia, Germany, Finland, France, India, and the US, has more than 160 partners for whom it provides smart tracking, smart building, smart manufacturing, and smart metering, with more than 7 million devices now connected via Wirepas.
FinSMEs
31/10/2023