The investment will accelerate the growth of the company and its expansion of activities into further market segments.
Zurich, Switzerland, 06.04.2022. - LORIOT, the IoT company enabling long-range IoT networks worldwide, announces the closing of its Series A investment funding by WIKA Group, a global company with headquarters in Germany. WIKA Group is leader in the pressure and temperature measuring equipment manufacturing market and has a strong focus in the gas and oil industry.
WIKA’s strategic investment will ensure LORIOT’s further expansion and an acceleration of its growth as a leading LoRaWAN® network server provider. Maintaining a strong focus on innovation in the LPWAN market, introducing new services and setting new standards to enable massive long-range IoT deployments all around the globe.
LORIOT as well as WIKA see this investment as a starting point for a strategic partnership with the common goal to support each other to address new markets and speed up their expansion strategies.
Alongside strategic purposes, the two companies share a sense of responsibility towards the environment and society, this further strengthens their partnership.
Axel Kaltofen, WIKA Executive Vice President Process Instrumentation, will be a member of LORIOT board of directors and will contribute to key decisions of the company.
According to Axel Kaltofen, WIKA is "looking forward to working together with LORIOT to extend the WIKA’s IIoT solutions portfolio with LORIOT’s outstanding products and IIoT Know-How for LPWAN network management."
"LORIOT is a young and profitable company with an excellent reputation. We've had steady growth since our inception, and now is the perfect time for us to take full advantage of the investment. Even more so with the WIKA Group, which is the ideal strategic partner to help us achieve our full potential and support our future expansion." Commented Julian Studer, CEO & founder of LORIOT.
With its Headquarters in Switzerland and offices in Valencia and Budapest, LORIOT was established in 2015 and was one of the first movers in the LoRaWAN market. Today the company runs one of the largest global public infrastructure and provides carrier-grade Private Network Servers for governments, telecoms operators, blue-chip organizations and small to medium-sized enterprises. The quality of LORIOT's network server and its excellent reputation in the market have been key factors in its steady growth.
LORIOT's management team is fully committed to innovation in order to offer its customers the best solution to meet the different needs of multiple use cases. From now on, LORIOT will be supported by WIKA as a strategic investor and partner on this path.
#####
LoRa Alliance® and LoRaWAN® are marks used under license from the LoRa Alliance®.
For 75 years, WIKA has continuously advanced instrumentation for pressure, temperature, level, flow, and force measurement. Leveraging decades of experience, WIKA developed a broad selection of stock and custom instrumentation as well as engineering services to support plant safety, productivity, and profitability. A global leader in lean manufacturing, WIKA has manufacturing locations around the globe, which enables flexibility and the ability to meet high delivery demands. Since the last few years WIKA is doing the transformation to position himself as a holistic solution provider for IIoT applications.
LORIOT is a global IoT company providing long-range infrastructure for the Internet of Things.
Due to a unique positioning in the LoRa® ecosystem as both software provider and network operator, is able to provide one of the most powerful and complete solutions in the market. The core product is a software for scalable, distributed, resilient and secure operation of LoRaWAN® networks and end-to-end applications that dramatically reduces costs and time to market for the end users. LORIOT offers the network infrastructure to set up, operate and maintain a radio network, integrate sensors and communicate with them over a secure and reliable connection.
Already operating in over 150 countries worldwide, LORIOT is one of the leading LoRaWAN® network solution providers.
Dario Maccarrone, CMO at LORIOT
dario@loriot.io
