15 June 2024
swedenbased hiber 15m series eqt

Sweden-based startup Hiber has recently secured $15 million in a Series A funding round, with EQT Ventures leading the investment. Hiber, founded in 2016, aims to provide affordable and accessible connectivity solutions for Internet of Things (IoT) devices, particularly in remote and rural areas. This latest funding round will enable Hiber to further develop its satellite network and expand its customer base. In this article, we will delve into the details of Hiber’s Series A funding, its mission, and the potential impact it may have on the IoT industry.

Expanding Connectivity for IoT Devices

Hiber’s primary focus is to bridge the connectivity gap for IoT devices that operate in remote or underserved areas. Traditional connectivity options such as cellular networks or Wi-Fi are often unavailable or too expensive in these regions. Hiber’s solution involves using a network of small satellites to provide low-cost and energy-efficient connectivity to these devices.

The company’s flagship product, the Hiberband, is a low-power, long-range modem that enables IoT devices to connect to the internet via satellite. With Hiberband, devices can transmit data from anywhere on Earth, even in areas with limited infrastructure. This technology has significant implications for industries such as agriculture, environmental monitoring, and asset tracking, where reliable connectivity is crucial.

Series A Funding Led by EQT Ventures

Hiber’s recent Series A funding round saw EQT Ventures leading the investment with $15 million. EQT Ventures is a European venture capital firm known for backing innovative technology startups. The funding will be instrumental in supporting Hiber’s growth plans, including expanding its satellite network and increasing its customer base.

Other participants in the funding round included existing investors such as Finch Capital and Netherlands Enterprise Agency (RVO). The additional capital will enable Hiber to enhance its existing infrastructure and develop new products and services to meet the growing demand for IoT connectivity.

Unlocking New Opportunities

Hiber’s affordable and accessible connectivity solutions have the potential to unlock a plethora of opportunities across various industries. In agriculture, for example, IoT devices can monitor soil moisture levels, weather conditions, and crop health, enabling farmers to make data-driven decisions and optimize their yields. Similarly, in the logistics sector, IoT devices can track shipments in real-time, ensuring efficient supply chain management.

Moreover, Hiber’s technology can play a vital role in environmental monitoring. By deploying IoT devices in remote areas, researchers can gather data on wildlife populations, climate change, and natural disasters. This information can aid in conservation efforts and help mitigate the impact of environmental crises.

The Future of IoT Connectivity

Hiber’s successful Series A funding round signifies the growing importance of IoT connectivity solutions in today’s digital landscape. As more industries embrace IoT technologies, the demand for reliable and cost-effective connectivity will continue to rise. Hiber’s satellite-based approach offers a viable solution for areas where traditional connectivity options are limited or impractical.

With the additional funding, Hiber plans to expand its satellite network and improve its service offerings. The company aims to reach more customers globally and establish itself as a leading provider of IoT connectivity solutions. As Hiber continues to innovate and refine its technology, it has the potential to revolutionize how IoT devices connect and communicate worldwide.

Conclusion:

Hiber’s recent $15 million Series A funding round led by EQT Ventures highlights the increasing significance of affordable and accessible IoT connectivity solutions. By leveraging a network of small satellites, Hiber aims to bridge the connectivity gap for IoT devices operating in remote or underserved areas. This funding will enable Hiber to further develop its satellite network and expand its customer base, unlocking new opportunities across various industries. As the demand for IoT connectivity continues to grow, Hiber’s innovative approach has the potential to revolutionize how devices connect and communicate globally.

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