MENU

Chinese LPWA IoT pioneer closes $10M Series A funding

Chinese LPWA IoT pioneer closes $10M Series A funding

Business news |
By Jean-Pierre Joosting



RAKwireless Technology Co., Ltd., a pioneer in end-to-end LPWA, has successfully closed a 10-million-dollar (USD) Series A Funding Round. The deal was led by Hong Kong NWS Holding Limited, followed by Shunwei, a leading venture capital firm from China, whose portfolio includes billions of investments in tech companies in East and Southeast Asia. This investment will be used to advance the production of high-performing infrastructure and edge devices, and further market the company’s initiatives to make IoT simple.

At RAK, our core motivation is to diversify the IoT world by making easy-to-configure devices. With this round of funding, RAK will build a one-stop service factory including assembly, enabling us to assist customers throughout all the production stages, from prototyping to commercial launch. Our goal is to help developers transition smoothly from prototype to commercial product.

Since 2014, RAKhas been delivering simple but powerful tools that eliminate barriers in IoT connectivity and empower people to build a smart future. The continuous development of these IoT products empower innovators and commercial enterprises to build the right environment for their property. The brand has held partnerships with some of the world’s leading tech players such as: Apple, Amazon, Alibaba, Tencent, and Microsoft. These partnerships have fueled thousands of small and medium enterprises with best-in-breed IoT technology.

“At RAK, our core motivation is to make things easier to build in the IoT world. We want to help developers to transition smoothly from prototype to commercial product. We understand what developers require to build a ready-to-use product. it’s not just the tools that they need, they also need more value-added services like customized enclosure, assembly, labeling, provisioning, etc.” says RAK CEO, Ken Yu. “With this round of funding, we aim to build a truly one-stop service factory, enabling us not only to create and produce better products, but also to provide custom design, assembly service and more to our customers.”


Starting with its LoRa modules that are the backbone of low-power wide-area networks, RAK engineers constructed robust indoor and outdoor gateways that enterprises use to boost their networking connections and operations. Its durable nodes, which help collect real-time accurate data from the environment, were the next step in paving the way for efficient maintenance of infrastructures.

RAK’s latest investment deal is a huge vote of confidence not only in the company but also in the ever-expanding IoT market. In 2018, the IoT market was valued at 190 billion USD, 75.4 billion of which come from the Asia Pacific region, specifically in China where RAK is headquartered. Now, the technology sector is projected to rapidly grow in agriculture and banking services, and obtain 1.6 trillion USD in revenue by 2025.

www.rakwireless.com/en-us/company

If you enjoyed this article, you will like the following ones: don't miss them by subscribing to :    eeNews on Google News

Share:

Linked Articles
10s