IoT network provider Sigfox is looking to raise between US$200m and US$300m by next year, its CEO has said.
IoT network provider Sigfox is looking to raise between US$200m and US$300m by next year, its CEO has said.
Ludovic Le Moan told Bloomberg that the Toulouse-based startup was also exploring the possibility of listing on the Nasdaq in mid-2017 to fund its future plans.
Sigfox, which uses low-cost Ultra Narrow Band-based radio technology to connect devices to its global network, has already attracted investors including some prominent telcos eager to involve themselves with IoT.
Telefónica, SK Telecom and NTT Docomo were among the participants in a Lazard-managed funding round in February that raised US$115m for the French firm.
Sigfox’s network currently covers 10 countries and the company plans to cover the globe. It says its network complements existing high-bandwidth systems by providing economical, energy-efficient two-way transmission of small quantities of data, lowering barriers to the implementation of IoT and M2M solutions.