Internet of Things (IoT) communications network provider iWire this week announced a $34 million Series A funding round led by Noor Capital. France’s sovereign fund BPI France participated by offering a long-term equipment purchase option to iWire. That brings the company’s total raise to more than $47 million.
The funds will be allotted to an expansion to India, Bahrain, Kuwait, Saudi Arabia, Jordan, Turkey and Tunisia. In 2022 the network plans extend to Bangladesh, Sri Lanka, and other undisclosed Middle Eastern and South African countries.
The three-year-old iWire uses Sigfox technology to build country-wide communications networks which power IoT solutions, thereby enabling utility companies, smart cities, smart facilities and logistics service providers to quickly unroll scalable and affordable IoT systems. iWire also builds its own branded IoT devices through iWire Technologies including utility meters, gas sensors, health watch, smart ID, smoke detectors, container trackers, and streetlighting.