Wirepas, a Finnish company on a mission to change enterprise IoT, today announces an injection of funds aimed at accelerating the development of the world’s first purpose-built non-cellular 5G technology.
On the heels of announcing the product and new standard in May, Wirepas, currently servicing several world-leading clients, has seen an increased interest and demand from partners and customers to bring the product to market. Existing investors Karma and Tesi are rising to the occasion, providing a new injection of appr 10M euros.
More specifically, the funds will be used to strengthen Wirepas’ longer-term research and to further develop the leading Massive IoT technology. Wirepas will also be hiring with a focus on development, testing and delivery, all aspects needed to successfully bring the solution to market.
“Karma focuses on deep tech and the impact it can have. Wirepas, with its solid team, technical strength, massive traction, and amazing steps in 5G, is in an ideal phase to benefit from more funding. We are convinced that Wirepas is changing the IoT landscape forever,” says Tommi Uhari, partner at Karma.
The demand for affordable networks is high for businesses looking for scalable, high-density applications in a multitude of areas such as smart meters, building management systems, logistics and smart cities. More specifically, it will assist in the urbanisation, building, and energy consumption in the construction of these smart cities. It also opens opportunities for new use cases, scaling at mass the levels of communication for future.
This new 5G standard means that for the first time, any business, regardless of size, will finally be able to digitise their business with reliable and affordable 5G connectivity. It will allow industries to run their own independent IoT systems and develop new services around their own expertise and business domain. It also enables them to store and consume the data generated in the way they see best fitting for them (on premises, in public cloud or anything in between), democratizing the data ownership, the company said in a release.