Actility raises €16 million to support accelerating growth in the IoT market
Industrial IoT connectivity solutions provider Actility has secured a funding round of €16 million (roughly $17.2 million). The company says the new financing will consolidate its position in the global LPWAN (Low-Power Wide Area Networks) market as it plans to use the funding to accelerate growth.
The latest fundraise follows the company’s €70 million (roughly $75.3 million) raise in 2017 with telecom operators (Orange, KPN, Inmarsat, Foxconn, Swisscom), Venture Capital (Bpifrance, through its Ecotechnology 2 fund, as part of France 2030 initiatives, BNP Paribas, Ginko Ventures, Indinvest), and industrial firms (Bosch, Cisco, Mulliez Creadev).
Actility used the funds to accelerate the development and deployment of its industrial IoT solutions, increase its R&D team and develop new roaming solutions.
Founded in 2010 by a team of tech entrepreneurs, Actility notes it foresaw that the next tech revolution would be driven by IoT deployment.
Olivier Hersent, CEO and co-inventor of LoRaWAN technology and a founding board member of the LoRa Alliance, initially positioned Actility as a primary partner for service providers rolling out industrial-scale LPWAN networks for uses like metering, smart lighting, and logistics.
The company broadened its suite of offerings by introducing its ThingPark Enterprise platform to cater to enterprise and private LoRaWAN deployments.
“LoRaWAN is the WiFi of IoT. Our potential market is very deep, with an estimated 2 million-plus private networks worldwide,” says Hersent.
“Our distributors and partners have secured large accounts, including major players like Bouygues—one of Europe’s largest construction groups, the visionary Red Sea smart city project in Saudi Arabia, and energy sector giants such as PowerCo in New Zealand and Total in Europe. Most of these large accounts gradually deploy across multiple sites and for multiple use cases. More accounts, more sites, more use cases—this is the formula for our accelerated growth in the coming years.”
According to marketsandmarket.com, the IoT LoRa and LoRaWAN market is expected to reach $25.5 billion in 2028, up from $5.6 billion in 2023, with an average annual growth rate of 35.3 percent.
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