Translation by: Fairouz Alnajem
The UAE-based company iWire, specialized in Internet of Things technologies (IoT), has raised a series (A) $34-million funding round led by the UAE Company Noor Capital, with the participation from the French public investment bank Bpifrance.
Accelerating growth and developing products
The new investment is aimed at helping the company develop its products more rapidly to expand geographically and reach 12 new countries over the coming years, developing its infrastructure to cover these countries and moving towards IoT technologies.
In the company's press release, Ahmed Fasih Akhter, CEO, iWire, said: "At iWire, we provide our customers an alternative to legacy connectivity solutions, which enables a successful digital transformation at a lower cost. Our solutions contribute to our customers’ business efficiencies as well as their satisfaction with our services. This investment is just the beginning of our journey and a great demonstration that we are following the right approach. We are proud to have the trust of such an investor and will continue expanding our network and products to transform the digital infrastructure in the region. "
Jeremy Prince, CEO of Sigfox, added: "Companies and organizations around the world are embracing IoT and 0G (a practical complement to broadband networks to operate simple Internet applications for functions such as asset tracking) to change the way they operate. We're delighted to have a great company like iWire amongst our significant community of Sigfox clients.
Our unique international network already allows customers to benefit from 0G seamlessly in more than 72 countries. iWire offers new markets with huge potential and we look forward to a very successful collaboration."
About iWire
Founded in 2018 by Vyomesh Thakkar, Ahmed Fasih Akhter, and Firoz Karumannil, iWire focuses on building public communications infrastructure that supports the IoT in UAE, to enable digital transformation at a lower cost.
iWire builds communication networks to power massive IoT solutions, providing wide-scale services to companies, smart cities, smart facilities, and logistics service providers with high elasticity
