and became the most promising startup in the Internet of Things in ANZ.
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 95% of all Australians and New Zealanders by the end of June 2017.
How was Thinxtra able to secure these major investments?
Thinxtra has been able to attract investors by presenting a compelling case that indicates the future success of the company. IoT is on the brink of moving into mass deployment, with SIGFOX, being the most advanced player in that space and providing a solid business model of recurring revenue from connecting the un-connected. The LPWAN* market size in ANZ is estimated at 100M+ connections by 2025 and SIGFOX expects to capture at least 30% of this new market.
Thinxtra is made of a strong team of experts in network deployment and the Internet of Things, as well as a solid board of directors, comprising Loic Barancourt, CEO and Managing Director, Bryan Mogridge, Director at BUPA and Mainfreight, Patrick Sieb, Executive Director at Macquarie Bank, Brent Robinson, CEO of Rakon and Alex Keisser, CEO of Engie Australia, (See also thinxtra.com/investors).
Furthermore, Thinxtra already has major projects in the pipeline with some first deals to be announced soon.
Thinxtra’s promising future in Asia.
Mr Barancourt says that Thinxtra is also looking at broadening its territory into Asia:“We are currently expanding our reach to make inroads into the Asia region and we are investigating the options around the deployment of a network there. Working with local manufacturers of devices in this region will also enable us to reduce our costs and develop an international sales base,” he says.
The company is now preparing for the second round of investment, with Series-B starting in October 2016 and Mr. Barancourt is optimistic about what lies ahead.
“We are currently only just scratching the surface of the huge worldwide potential we have available to us – the future is bright.” he says.
Thinxtra is empowering Australia and New Zealand’s Internet of Things by deploying SIGFOX world-leading LPWAN connectivity as well as building a full eco-system of IoT solutions & services to enable the non-connected to connect, to increase productivity, accelerate decision making, improve quality of service or simply solve problems economically.
Thinxtra was founded by IoT and network experts who share a common passion for connecting things to improve business processes and people live, and backed by NZX-listed high-tech company Rakon Limited, which has a history of innovation in communications technology going back some 50 years.
Visit library.web.thinxtra.com and follow us on Twitter @Thinxtra.
*About LPWAN Technology
The majority of IoT-connected devices do not need to send huge data loads: they can function perfectly well using ultra narrow band technology. This type of solution can be set up and operated for as little as one-tenth of the cost of using a 3G/4G device, and because they are only “on” when they are transmitting, power demand is negligible.
The significantly lower set-up and running costs make this technology a viable proposition for a great many more possible applications than are currently connected.
The SIGFOX network has been designed with the IoT in mind, and is the only company rolling out a global network fully dedicated to connected objects.
The SIGFOX network provides:
• Low energy consumption (most devices are battery powered).
• Long range (reducing network and subscription costs).
• Ease of use.
• Security and reliability.