Singapore-based Internet of Things (IoT) technology provider UnaBiz has raised $ 25 million from top investors in Japan, Taiwan and Thailand in a Series B financing round.
UnaBiz said , The funds will be used to strengthen its position in key markets such as Japan, Southeast Asia and Europe through local offices and through mergers and acquisitions. It will also use the injection of capital to fuel the growth of its UnaConnect data platform, which bridges the gap between IoT data capture technologies and enterprise systems.
The funding round was led by Tokyo-based Sparx Group, an independent investment company that operates through their Mirai Creation Fund II, a 700 million
Sparx President and CEO Shuhei Abe noted that UnaBiz has made « tremendous strides » over the past year and is one of the largest smart gas metering projects in the world Region.
In 2019, UnaBiz deployed 850,000 IoT devices to convert traditional gas meters into smart meters for Japanese energy trader Nicigas. Following the project that helped Nicigas cut its costs by 40%, the Tokyo Metropolitan Government decided to deploy smart water meters on a larger scale.
Commenting on the new round of funding, said Henri Bong, co-founder and CEO of UnaBiz , the company looks forward to growing its team and working with experts to promote a unified market for IoT systems, a market that is fragmented by different technologies and is a vendor.
In addition to water and gas metering UnaBiz successful in asset tracking where its technology is used by the Australian Konvoy group to monitor 70,000 kegs in Australia and New Zealand. In Singapore, an educational institution is using UnaBiz’s technology for a facility management project.
Since the focus is on sustainability issues, UnaBiz will also use the Series B funding to add new offers such as energy-optimized sensors and pattern recognition with artificial intelligence
« We are seeing a change in the requirements of the IoT market from competitive factors to obligations to reduce CO2, » said Philippe Chiu, Co-Founder and Chief Technology Officer of UnaBiz. « In addition to the introduction of sustainability reports, responsible consumption and production practices, the new funds will be channeled to develop specific know-how and services that help our customers achieve their energy goals. » The Taiwanese venture also took part in the financing round – and private equity group CDIB Capital Growth Partners. Its President, William Ho, said UnaBiz has proven that its technology and vertical agnostic approach are right for the marketplace. to help them take advantage of cross-market opportunities in the Asia-Pacific region, « he added.
In Thailand, Top Ventures, the investment arm of Thai Oil Public Company, the country’s largest oil and gas company, dropped state PTT group, also his hat in the ring to bring existing massive IoT solutions to the Thai market.
“We want to invest in new technologies and business models that are promising and improve and expand our existing energy business « Said Luck Saraya, Managing Director of Top Ventures.
The financing increases the total capital raised by UnaBiz to $ 35 million, adding to the valuation of the company r have more than tripled since the last round.
When employees use unapproved devices and software, they create vulnerabilities in information security. Here are some of …
Facebook whistleblower Frances Haugen condemned the company’s practice of shielding internal research and urged Congress to …
The transition to a hybrid work model introduces companies a number of challenges. How IT executives can help overcome obstacles …
As cyber attacks and damage have increased, so has the demand for cyber insurance. But now the rewards reflect a tough new …
US Senators debated creating federal privacy and security standards and allocating sufficient resources for the FTC to …
A new poll by Ivanti shows that the majority of administrators and Infosec experts are feeling the move to decentralized workspaces …
VMware’s latest Edge product portfolio is in line with the infrastructure the company has for the cloud and …
Internet and Ethernet are two technologies that sound similar and offer connectivity, but the methods of providing connectivity …
FCC Commissioner Nathan Simington said satellite wireless broadband should be available in remote areas where fiber is not available.
Create a security compliance plan for your data center in five steps. Discover different standards, learn about audit plans and …
What are pods and nodes? How do namespaces differ from volumes? This list of common Kubernetes terms can give you a basic …
Free, open source AlmaLinux, Rocky Linux, and VzLinux are clones of the popular CentOS Linux distribution that is rolling into a …
DataOps more than just DevOps for data. It’s a set of data orchestration, operation, and management tools and principles that …
Claudius Weinberger, Co-Founder and CEO of ArangoDB, explains why the provider is raising money to meet the growing demand for …
The provider of data platforms would like to enable companies to transfer data from different data sources with a new …
All rights reserved,
Copyright 2000-2021, TechTarget
Privacy Policy
Cookie settings
Don’t sell my personal information
Keywords:
