France-based machine-to-machine cellular network operator Sigfox has raised a €10m ($12.8m) series B round led by Intel Capital.
Other investors in the round include iXO Private Equity, Partech Ventures International, and venture firm Elaia Partners. All three firms previous participated in a €2m ($2.6m) series A round in January 2011.
The Toulouse-based firm plans to use the fresh investment to develop their network.
“This new funding round will enable the Company to quickly deploy a very low throughput network covering the whole of France and several foreign countries, and follows our announcement on the opening of the SIGFOX network in early June,” said Ludovic Le Moan, Sigfox chief executive officer.
He added: “We are very pleased to welcome Intel Capital as a new investor as this is recognition of our vision and technological know-how“.
“We are pleased to support SIGFOX with our investment,” added Stephane Goubau, Investment Director, Intel Capital. “We have been impressed by the breakthrough technology the Company has developed and by the services opportunities the company enables at costs that could only have been dreamt of before now.”