Tampere-based Wirepas secures €20.7 million in funding. Highland Europe superheaded this round in an effort to expand the wireless connectivity revolution to even more businesses all through the globe. Along with prior investors ETF Partners, KPN Ventures, Vito Ventures, and Vesa Laisi, Amalfi and IQT also took part.
With nearly 100 patents in wireless technology as its basis, Wirepas addresses the scalability, long-term viability and dependability problems that have prevented Massive IoT from realising its full, revolutionary potential.
The money will be employed to develop Wirepas’ technology and solutions more widely throughout the world, with the goal of setting the standard for IoT connectivity.
Inventure, Karma, and Tesi are among the investors backing Wirepas in addition to the new investors and the returning investors for this round.
Teppo Hemiä, Wirepas CEO, said: “The dream of IoT – devices that communicate with each other to automate processes and collect usable data – has had huge appeal for a long time. But until now there has been a disconnect between the limited, centralised IoT solutions of old and what is needed. Wirepas finally makes massive IoT’s promise a reality by bringing a radical and revolutionary approach to unlock its full potential. Wirepas is also key contributor to the new non-cellular 5G standard of ITU-R. Today’s announcement and funding is a testament to our team’s dedication to the project and we are grateful to Highland Europe for recognising this technology as a game-changer.”
Laurence Garrett, Partner at Highland Europe, commented: “Wirepas isn’t just an incremental improvement over existing technologies – this technology is setting a new standard for what’s possible. By offering a solution that is cost-effective and scalable, Wirepas addresses the two most significant barriers to IoT adoption.”
One of the top universities in the world for wireless and mobile technology, Wirepas expanded internationally, opening offices in Australia, Germany, Finland, France, India, and the US.
With more than 160 partners, the company provides smart metering, smart building, smart tracking, and smart manufacturing services. Currently, Wirepas is connecting over 7 million devices.