Wirepas Secures Whopping $22 Million in Funding to Fuel IoT Innovation Worldwide
Wirepas, a cutting-edge Finnish company specializing in providing fail-proof IoT networks, has raised a substantial $22 million in funding in a groundbreaking development.
This remarkable funding round is spearheaded by the prestigious Highland Europe while also enjoying the backing of notable players like Amalfi and IQT. Notably, it enjoys continued support from esteemed previous investors, including ETF Partners, KPN Ventures, Vito Ventures, and Vesa Laisi.
Wirepas's ambitious vision of global technological expansion and its unwavering commitment to becoming the gold standard in IoT connectivity sets it apart. With this fresh infusion of capital, the company aims to accelerate the development and deployment of its innovative technology and solutions worldwide.
Under the visionary leadership of Teppo Hemiä, Wirepas is on a mission to revolutionize wireless IoT connectivity for enterprises worldwide. Their groundbreaking approach leverages advanced algorithms and decentralized mesh technology, enabling their networks to seamlessly interconnect up to a staggering 4 billion devices within a single network.
The true magic lies in how Wirepas orchestrates these connections—facilitating small, efficient hops between devices instead of relying on a distant central hub. This ingenious approach extends the range and resilience of their networks and significantly reduces the costs and energy consumption associated with network management.
Wirepas' networks are built to be fault-tolerant. If one sensor experiences a disruption, Wirepas deftly reroutes the data flow without a hitch. The network then autonomously reconfigures itself to ensure uninterrupted operation.
With a global presence spanning Australia, Germany, Finland, France, India, and the United States, Wirepas has established itself as a dominant force. The company boasts a staggering roster of over 160 partners who rely on their services for various applications, including smart tracking, smart building management, smart manufacturing, and smart metering. Impressively, Wirepas has already connected more than 7 million devices worldwide.