DIFC-based startup iWire raises $34mln in ‘Series A funding’

iWire builds country-wide communication networks to power massive IoT solutions

  
Image used for illustrative purpose. Convincing potential investors through crowdfunding may involve a lot of a start-up owner’s time and effort, but it is one of the risks that go with the SME territory.

Image used for illustrative purpose. Convincing potential investors through crowdfunding may involve a lot of a start-up owner’s time and effort, but it is one of the risks that go with the SME territory.

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One of the emerging leaders in the internet of things (IoT), iWire has announced a ‘Series A’ $34 million funding round led by Noor Capital.
 
Over the coming years, the company will expand its geographic presence across 12 countries, including India, Saudi Arabia, Turkey, Bangladesh and Sri Lanka, by building the digital communication infrastructure to power massive IoT. iWire has so far raised more than $47 million over the past three years.

Bpifrance, the French sovereign wealth fund and a leading export credit agency in Europe, participated with Noor Capital in this funding by granting a long-term equipment purchase option to iWire through a buyer credit agreement.

Launched in April 2018, iWire builds country-wide communication networks to power massive IoT solutions. The IoT network allows large scale businesses such as utility companies, smart cities, smart facilities and logistics service providers to deploy massive IoT solutions in a fast, cost-effective and highly scalable way.

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