February 8, 2023

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Sigfox technology owner UnaBiz doubles its Series B funding to $50 million • TechCrunch

UnaBiz, the Massive Internet of Things service provider and owner of Sigfox technology, announced today that it has raised an additional $25 million in Series B funding. This doubles the total amount of the round to $50 million after the first tranche was announced in October 2021. Singapore-based UnaBiz has now raised a total of $60 million.

The financing was led by SPARX Group, a Tokyo-based investment company, with participation from GK Goh Holdings and Optimal Investment, all returning investors. An UnaBiz representative told TechCrunch that the new capital will prepare UnaBiz for its next phase of growth so that it can focus on boosting commercial activity and serving customers in 2023, regardless of economic conditions.

UnaBiz acquired Sigfox’s technology in April after the French IoT startup filed for bankruptcy protection. The acquisition doubled UnaBiz’s office locations and tripled its workforce to more than 240 employees. The UnaBiz representative said it has closed SigFox’s loss-making units and hired new executives, including a chief customer officer to focus on pipeline and revenue streams, a chief operating officer to oversee operational stability and cost optimization, and a chief technology officers. The aim is to consolidate the business more quickly.

UnaBiz plans investments in four verticals (Utilities, Security, Facilities Management, and Supply Chain & Logistics) in Latin America, APAC and EMEA. The funding will also be used to research and develop the company’s 0G capabilities and expand its product portfolio to include more LPWAN and satellite technology.

In a statement of its investment in UnaBiz, Shuhei Abe, President and CEO of SPARX Group, said: “As the technology owner of the most energy efficient LPWAN technology available, UnaBiz is in a prime position to drive the convergence of Massive IoT Driving communication technologies (from 0G to 5G) to help companies achieve their digitization and sustainability goals.”