Wirepas Innovates IoT Connectivity with €20.7M Funding to Promote Sustainable Smart Buildings
Industries reliant on IoT (Internet of Things) networks face significant challenges in scaling their connectivity solutions due to outdated centralised systems. The complexities of connecting millions of devices while maintaining network reliability and minimising energy usage have created barriers to realising the full potential of Massive IoT. This issue is particularly relevant for enterprises using IoT solutions for smart buildings, smart agriculture, logistics, and smart meters. Many existing IoT systems struggle with disruptions, high energy consumption, and limited scalability, hindering industries from achieving operational efficiencies and sustainability targets.
Wirepas, a Finnish IoT company, is addressing these challenges by developing decentralised, scalable IoT networks that drastically reduce energy consumption and costs while improving network resilience. Wirepas employs a unique mesh architecture where each device on the network acts as an access point for the next, allowing massive networks of up to 4 billion devices to communicate autonomously. This decentralised approach contrasts sharply with traditional centralised systems that rely on a single base station. Wirepas’ system enhances the reliability of IoT networks, making them more adaptable to settings where even minor interruptions could have significant consequences, such as in smart metering and industrial automation.
Additionally, Wirepas is a key contributor to the development of the non-cellular 5G standard, which is anticipated to revolutionise the deployment of IoT solutions globally. With its vast range of applications, including smart manufacturing, smart building, and smart agriculture, Wirepas is positioned to drive advancements in sustainable IoT. The environmental benefits of this technology are substantial as it lowers the energy and costs associated with managing large-scale IoT networks, thus aligning with the global push for more sustainable and responsible industrial practices.
In a recent funding round led by Highland Europe, Wirepas secured €20.7 million to expand its operations and continue advancing its technology. The company’s solution not only supports the growth of IoT networks but also addresses key sustainability issues by creating more efficient, energy-saving, and scalable connectivity solutions, crucial for industries seeking to adopt more sustainable practices.
Source: EU Start-ups
Technologies Used:
- Massive IoT: Connecting millions of devices within large networks, allowing remote communication, data monitoring, and management.
- Autonomous Decentralised Networks: A mesh architecture that ensures every device acts as a node, improving reliability and reducing energy use.
- Non-Cellular 5G Standard: Wirepas contributes to developing non-cellular 5G, enabling flexible, cost-effective IoT deployments globally.
SDGs Impacted:
- SDG 9: Industry, Innovation, and Infrastructure – Wirepas’ IoT networks promote smart infrastructures in industries, improving efficiency and fostering innovation.
- SDG 11: Sustainable Cities and Communities – Smart city solutions such as smart metering and tracking provided by Wirepas can reduce energy consumption and create more sustainable urban environments.
- SDG 12: Responsible Consumption and Production – The decentralised approach significantly reduces energy use and network maintenance costs, promoting more sustainable production processes.
Sustainability Focus:
- Energy Efficiency: By reducing the energy consumption needed for large-scale IoT networks, Wirepas contributes to more responsible energy use across industries.
- Resource Efficiency: Their decentralised networks reduce infrastructure costs and maintenance resources, aligning with the goals of sustainable production.
Other Details:
- Company: Wirepas
- Industry: Construction, Utilities
- Amount Raised: €20.7 million
- Type/Round of Investment: Series A Investment
- Geographic Focus: Finland
Key Investors:
- Highland Europe – United Kingdom
- Amalfi
- IQT – United States
- ETF Partners – United Kingdom
- KPN Ventures – Netherlands
- Vito Ventures – Germany
Disclaimer
This web site is developed and maintained by ESG Intelligence Private Limited (hereinafter ‘Company’). The use of this website is at the sole risk of the user.
The inclusion of experts on this website or in any professional directory on this website does not imply recommendation or endorsement of such expert nor is such information intended as a tool for verifying the credentials, qualifications, or abilities of any expert contained therein.
All information on this website is provided on an “as-is” basis and the Company disclaims all warranties, either express or implied, including but not limited to the implied warranties of merchantability and fitness for particular purpose as to the results you may achieve on account your use of this website, as to the results you may achieve on account of any relationship you elect to create with an expert. The Company does not make any representations or warranties regarding any expert, including but not limited to, any expert’s ability to obtain a favorable result for you. The Company does not guaranty in any services or goods associated with this website will be error-free or uninterrupted, or that any service or good will continue to be available. Any material downloaded or otherwise obtained through the use of the service is done at your own discretion and risk and that you will be solely responsible for any damage to your computer system or loss of data that results from the download of any such material. No information, whether oral or written, obtained by you from the Company or through or from this website shall create any warranty not expressly stated.
Though all efforts have been made to ensure the accuracy and currency of the content on this website, the same should not be construed as a statement of law or used for any legal purposes or otherwise. The Company, its management and/or its employees hereby expressly disowns and repudiates any claims or liabilities (including but not limited to any third party claim or liability, of any nature, whatsoever) in relation to the accuracy, completeness, usefulness and real-time of any information and contents available at this website, and against any intended purposes (of any kind whatsoever) by use thereof, by the user/s (whether used by user/s directly or indirectly). Users are advised to verify/check any information and contents, with the relevant source(s) and obtain any appropriate professional advice, before acting thereon as may be provided, from time to time, in the website.
Portions of the content presented on this website have been generated using advanced artificial intelligence tools, including but not limited to ChatGPT, Bing, and other generative AI models. While the Company strives for accuracy and relevance, the nature of AI-generated content means that it may occasionally contain inaccuracies, omissions, or may not always reflect the most current information. The Company recommends users to exercise discretion, and cross-reference information from other sources when making decisions based on the content provided on this Website. The Company will not be responsible for any decisions made based on information provided on this Website.
The Company makes no representations or warranty whatsoever about any other web site which you may access through this one or third party content. The Company shall not be responsible for and assumes no liability for any mistakes, misstatements of law, defamation, omissions, falsehood, obscenity, pornography or profanity in the statements, opinions, representations or any other form of content contained in any third-party content appearing on the website. You understand that the information and opinions in the third-party content on this website represent solely the thoughts of the author and is neither endorsed by the Company nor does it reflect the beliefs of the Company. When you access any website, please understand that it is independent from the Company, and the Company has no control over the content on that website. In addition, a link to any other web site does not mean that the Company endorses or accepts any responsibility for the content, or use, of such web site. It is up to you to take precautions to ensure that whatever you select for your use is free of such items as viruses, worms and other items of destructive nature. The Company hereby expressly disclaims any liability and claims against, any information, materials, products or services posted or offered at any of the third party sites linked to this website.
This website shall be governed by and construed in accordance with the applicable laws of India.
The Company exclusively reserves the rights, to change or modify or alter any of the policies available on this website (whether completely or partially), from time to time, at its discretion, without any objections, interruptions, grounds, claims or liabilities of any third party/users.