9 September 2016
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 board member Brent Robinson, who heads cornerstone investor Rakon, says the successful close of the first round of investment, coupled with the network deployment progress made so far, further reinforced the kiwi tech company’s decision to invest.
“Thinxtra has made rapid progress with the roll-out in New Zealand and Australia. In New Zealand alone, 54% of our country’s population now has IoT coverage, which has been achieved in just five months,” says Robinson.
“We are pleased to cement our position as the largest investor in Thinxtra in this first round. Rakon has been keeping abreast of the IoT space since its inception. Our investment is opening up significant opportunities and the close collaboration with Thinxtra has further strengthened relationships within Rakon’s own IoT eco-system.”
Thinxtra aims to deploy Australia and New Zealand’s first dedicated IoT network using LPWAN* (low-power wide area network) technology developed by French company SIGFOX. The company is on track to provide coverage to 85 percent of all Australians and New Zealanders by June 2017.
“It is estimated there will be more than 100 million connected devices by 2025 and SIGFOX expects to represent at least 30% of this new market,” he says.
Mr Barancourt says that Thinxtra is also looking at broadening its territory to include Asia – encompassing the wider Asia-Pacific region.
“We are currently expanding our reach to include 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 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 in an economic & connected manner.
Thinxtra was founded by IoT & network experts who share a common passion for connecting things to improve business processes and peoples’ lives. The company is backed by NZX-listed high-tech company Rakon Limited which has a history of innovation in communications technology going back some 50 years.
Renald Gallis – VP Marketing & Ecosystem
+61 404 894 960
Rakon is a global high technology company and a world leader in its field. The company designs and manufactures advanced frequency control and timing solutions for telecommunications, global positioning and space and defence applications. Rakon products are found at the forefront of communications where speed and reliability are paramount. The company’s products create extremely accurate electric signals which are used to generate radio waves and synchronise time in the most demanding communication applications. Rakon has five manufacturing plants including two joint venture plants and has five research and development centres. Customer support centres are located in ten offices worldwide.
Rakon is proud of its New Zealand heritage; it was founded in Auckland in 1967. It is a public company listed on the New Zealand stock exchange, NZSX, ticker code RAK.
*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. Typically, it is based on antennae and base station infrastructure that is completely independent of existing networks. SIGFOX is the only company rolling out a global network fully dedicated to connected objects.
The SIGFOX network provides:
• Low energy consumption (many devices are battery powered).
• Long range (reducing network and subscription costs).
• Ease of use.
• Security and reliability.