Intel Capital, the corporate venturing unit for computing company Intel, has participated in a €15m ($20.7m) series C round raised by Sigfox, a France-based company that aims to develop a cellular communication network for connected objects.
The round was led by investment firm IDInvest and French government-backed fund BPIFrance, and also included existing investors Elaia Partners, IXO Private Equity and Partech Ventures. Sigfox has now raised €27m ($37.2m) in total since it was founded in 2009.
Sigfox launched its network, which it believes will be able to boost the ‘Internet of Things’ by facilitating communication between different devices, in France in June 2012. It has since extended it to several European countries and plans to use the funding to accelerate the deployment of the network in other international territories.