Actility, a French company specializing in low-power industrial IoT connectivity, has announced the successful completion of a recent funding round, raising €16 million (approximately $17.5 million USD). This funding will support Actility’s efforts to drive growth and make IoT a pervasive, efficient, and sustainable force in the digital world, fueled by the potential of massive IoT deployment.
Actility is an innovator in the Low-Power Wide Area Networks (LPWAN) market, providing support to service providers and enterprises in their IoT network lifecycle from connectivity deployment to mass monetization. The company positions itself as a solution for the complexity of IoT and accommodates both enterprise and private LoRaWAN deployments.
According to Olivier Hersent, the founder and CEO of Actility, “LoRaWAN is the WiFi of IoT. Our potential market is very deep, with an estimated 2 million-plus private networks worldwide. Most of our large accounts gradually deploy across multiple sites and for multiple use cases. More accounts, more sites, more use cases—this is the formula for our accelerated growth in the coming years.”
Additionally, Actility’s IoT innovation serves the AI industry by leveraging real-time field data to drive AI value through improved agility, reduced resource waste, and risk reduction and mitigation.
The company also places a strong emphasis on using its IoT innovations to contribute to a more sustainable future. The introduction of ThingPark Enterprise, Actility’s Industrial Internet of Things (IIoT) solution, enables “smart city innovations” that enhance industrial efficiency with sustainable practices.
This latest funding round, following the company’s €70 million (approximately $76.7 million USD) raise in 2017, will propel Actility on its mission to digitize industries globally through the widespread adoption of efficient, safe, and environmentally sound IoT. To learn more about Actility, please visit https://www.actility.com/.