News and Announcements
Thinxtra Raises $11m in 5 Months
- Published September 09, 2016 2:28PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
9th September 2016, Thinxtra
Internet of Things (IoT) start-up Thinxtra, has successfully completed its first significant round of venture capital financing, raising AUD11 million within five months of the initial round offer. The main investors include NZX-listed, technology company Rakon and a number of private investors including major players within the IoT space.
Thinxtra is empowering Australia and New Zealand’s Internet of Things by deploying SIGFOX, the most mature LPWAN* technology and the backbone to Internet of Things in terms of connectivity. SIGFOX has global coverage, with 24 countries deployed or being deployed (including USA, Australia & New Zealand)
Thinxtra has made rapid progress with rolling out the network in Australia and New Zealand. In Australia, 33% of the population is now SIGFOX covered while in New Zealand coverage has reached 54% of population, which has been achieved in just five months. The company is on track to provide coverage to 85% of all Australians and New Zealanders by the end of June 2017.
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