IoT startup UnaBiz raises over US$25m in Series B extension

UNABIZ, a Singapore-based Internet of Things (IoT) startup, has raised an additional US$25 million in an extension to its Series B round in October last year. This brings its total Series B raise to over US$50 million.

The extension round was led by Japanese asset manager Sparx Group with a US$20 million investment. It was joined by Singapore-listed investment company GK Goh and Optimal Holdings. All are existing investors of UnaBiz.

The latest capital injection comes after UnaBiz successfully bid for troubled European tech giant Sigfox and its French subsidiary for 25 million euros (S$35.6 million) in April. Both companies have spent the past six months on integration. Post-acquisition, UnaBiz doubled its office locations and tripled in headcount to over 240 employees worldwide.

Goh Yew Lin, managing director of GK Goh, said: “We are happy to increase our investment in UnaBiz as it accelerates its geographical reach following the acquisition of Sigfox.”

Founded in 2010, Sigfox operates a so-called “0G” wireless network that connects low-powered devices and sensors, an essential element for smart machinery and systems. UnaBiz, set up in 2016, is the exclusive network operator of Sigfox in Singapore and Taiwan. It has sales offices in Tokyo, Paris, Madrid and Rotterdam, and has research and development centres in Taiwan and France.

Shuhei Abe, president and chief executive officer (CEO) of Sparx Group, said that UnaBiz is in a “prime position to champion the convergence of massive IoT communication technologies – from 0G to 5G – to help enterprises achieve their digitalisation and sustainability goals”.

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UnaBiz co-founder and co-CEO Philippe Chiu said that the company will expand its product portfolio to integrate more low-power wide-area network and satellite technologies.

“Aside from the investments already planned to support business development in strategic markets, we will also use the fresh funds in research and development to further enhance the core low-power 0G capabilities as well as enable cost-effective long-range connectivity dedicated to very low-value assets,” he said.