Sigfox LPWA network provider Thinxtra has secured a cornerstone investor to help fund the deployment of dedicated IoT networks in Australia, New Zealand and Hong Kong.
Australia's Clean Energy Finance Corporation (CEFC) has signed on as a cornerstone investor, Thinxtra said.
Thinxtra has revealed plans to use the investment to complete deployment of its Australian and New Zealand IoT networks covering 95% of the population by year end. The proceeds will also help fund the establishment of Hong Kong's first territory-wide dedicated IoT network.
Already 150 Hong Kong businesses have partnered with Thinxtra to leverage the planned Sigfox network, including smart meter water service companies, smart logistics solution providers and others.
“Our low cost, low power, long range IoT network is perfect for deploying simple solutions to make cities smarter, buildings more energy efficient, industry more productive, reduce congestion and improve health outcomes for Hong Kong,” Thinxtra MD for Asia Murray Hankinson said.
“Industry, government and community working with us are seeing improved efficiency, gaining deep insights and better service outcomes for their customers. Their supply chain, risk and governance issues they are challenged by are being solved. Sustainable smart cities are crucial to business and the community in Hong Kong.”
“Beyond building and monitoring country wide networks in Australia, New Zealand and Hong Kong, we want to be the empowerer of mass IoT, bringing full end to end IoT solutions to solving recurrent energy waste problems at a very low cost. We will be the low power wide area network of choice for IoT,” Thinxtra CEO Loic Barancourt said.