Funding

[Funding alert] Paris-based Actility Secures €16 Million in Funding

Dec 11, 2023 | By Startup Rise EU

Paris-based Actility secures €16 million in funding from its historical investors. This financing aims to consolidate its pioneering position in the global LPWAN market which is entering a phase of maturity and strong growth.

Paris-based Actility secures €16 million in funding from its historical investors. This financing aims to consolidate its pioneering position in the global LPWAN market which is entering a phase of maturity and strong growth.

Olivier HERSENT, the founder and CEO of Actility said, “Due to its industrial nature and the complexity of the issues, the deployment of IoT technology has taken longer than expected. However, we have now entered a phase of sustained growth. With business adoption nearly doubling each year, driven by the digitalization of the economy. AI cannot work without data, and our technology is the missing link that connects optimization algorithms to the ground reality of various industrial sectors.”

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This fundraising comes in a context of strong recovery in the IoT market and a strategic repositioning of the company. Actility was founded in 2010 by a team of serial entrepreneurs , who had already played a key role in the transition from telephony to the Internet.

Olivier Hersent, CEO and co-inventor of LoRaWAN technology, as well as a founding member of the LoRa Alliance, positioned Actility as a preferred partner for service providers deploying large-scale LPWAN networks for applications varied such as meter reading, intelligent lighting or logistics.

Read also - Amsterdam-based Farmless Raises €4.8M in Seed Funding

This latest fundraising follows the company's raising of 70 million euros in 2017 with the main telecommunications operators (Orange, KPN, Inmarsat, Foxconn, Swisscom), Ventures Capital (the Ecotechnologies fund, managed for the State account by Bpifrance as part of France 2030 actions, BNP Paribas, Ginko Ventures, Indinvest), and industrial players (Bosch, Cisco, Creadev).

Actility used the funds to accelerate the development and deployment of its industrial IoT solutions, strengthen its R&D team, develop new roaming solutions and make key acquisitions to boost its growth.

About Actility

Actility is the global leader in low-power industrial connectivity solutions(LPWAN) for the Internet of Things. Actility provides its ThingPark™ platform and networking technology to deploy, operate and maintain public and private wireless IoT networks within a unified, scalable and versatile network infrastructure.

Read also - Paris-based Startup Pimento Raises €3M in Seed Funding

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