French IoT network Sigfox raises €100M in Series C

sigfoxFrench startup Sigfox has closed an investment deal today of 100 million euros (or $112.80 million) from a wide range of investors that include major telecom companies Telefonica of Spain, SK Telekom of South Korea and NTT Docomo of Japan. GDF Sue, Air Liquide and Elliott Management are also part of this Series C round.

Paris-based Internet of Things company has also announced an ambitious plan attached to the round, promising expansion of existing network in 4 countries to over 60 in next 5 years. The telecom operator which develops and runs a low-energy, low-cost wireless network that connects everything from washing machines and alarms to smart meters and smart watches, is currently operating in France, Spain, the Netherlands and part of the UK.

The company says it currently has a network of several millions connected objects, with five million flats with anti-intrusion alarms with its partner Securitas Direct in Spain. According to the sources, potential markets that Sigfox aims to open up to include the United States, Latin America,Japan and South Korea.

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