“Transformation Complete” – Unabiz Claims 40% Growth, $25M Funding to Fuel Sigfox 2.0

Unabiz, owner of Sigfox technology, has announced $25 million in new capital funding from Japanese pair KDDI and KCCS (Kyocera) as part of early interest in a new Series C (“pre-Series C”) round, which is due to close in October. The Singapore-based company said its “transformation is complete” after rescuing Sigfox from bankruptcy and oblivion two years ago. Together with its operator partners, it has grown the business by four million connections (around 40 percent) in the period, it said, and is ready to push the new Sigfox proposition into the security, logistics and utilities markets.

KDDI and KCCS have already invested heavily in Unabiz, which raised around $50 million in a Series B round in 2022 and at least $10 million in a Series A round in 2018. Reports last year suggested that Unabiz was seeking $100 million in Series C funding by the end of 2023 to sell its IoT device and airtime solutions in Japan. Unabiz is said to already have investors lined up, and the new KDDI/KCCS injection is a result of its history with the pair, as well as its newfound reach.

The Japanese angle remains important. KCCS (Kyocera Communication Systems), the systems integration division of electronics company Kyocera and the national Sigfox network operator in Japan, said Unabiz is a “gateway for Japanese companies to export their IoT solutions globally.” Unabiz said its Sigfox business, branded Sigfox 0G, is now profitable (with a “healthy and profitable P&L”) following a “streamlining” and efficiency project following the acquisition, plus new revenue growth.

The four million net additions in the past 24 months represent approximately 40 percent growth in connection volumes since Unabiz took over. The company said it now has a total of 13.5 million IoT endpoints on its networks. Its global footprint, consisting of a patchwork of third-party low-power wide-area network (LPWAN) infrastructure in unlicensed sub-GHz spectrum across approximately 70 countries, is the “largest unlicensed LPWAN network in the world,” Unabiz said. The renewed focus on security, logistics and utilities builds on successes in each area, the company said.

Notably, the company has connected a million new IoT devices in the security industry in the past 12 months and is investing with “major” car and motorcycle manufacturers to scale up Sigfox-based telemetry and anti-jamming solutions. It also suggested that adding AI/ML tricks to Wi-Fi scanning software in Sigfox trackers will “deepen” sales to the supply chain market, where it is targeting pallet and parcel handling companies, and that new hybrid IoT solutions including LoRaWAN crossover devices will help drive sales of gas and water meters.

Henri Bong, Co-Founder and CEO of Unabiz, said: “Our transformation is complete. Since acquiring Sigfox… we have unleashed its full potential by opening up the technology and unlocking new opportunities for IoT deployments and applications across the LPWAN ecosystem. Today, we are one of the largest aggregators of ‘massive IoT’ solutions globally, with 13.5 million connected devices, four of which were added in the last 24 months alone.”

Kazuhiko Chuman, general manager of KDDI’s open innovation financing department, said: “Unabiz has been at the forefront of expanding the Sigfox… business, and has made significant contributions to the creation of an IoT business ecosystem. Today, (it) has become an indispensable presence in various industries, and has earned the trust of countless customers and partners at home and abroad. Through our cooperation… KDDI will continue to drive further growth in the IoT market.”

Yoshiaki Nagai, deputy general manager for ICT group at KCCS, said: “Through the acquisition of Sigfox… Unabiz has become a gateway for Japanese companies to export their IoT solutions globally. We look forward to working closely with the team to expand our solutions business worldwide.”

Alexis Susset, Chief Technology Officer and Executive Vice President of Unabiz in Japan and South Korea, said: “Japan has played a critical role in Unabiz’s growth thanks to a rapidly growing ecosystem of partners and customers implementing and scaling solutions across key verticals…. Continued investments by KDDI and KCCS reinforce our commitment to advancing massive IoT technologies and business models with our Japanese partners.”