Sweden-based Hiber raises $15M in funding round led by EQT Ventures and 20MTakahashi

Sweden-based Hiber, a global connectivity provider, has recently announced a successful funding round that raised $15 million. The funding was led by EQT Ventures and 20MTakahashi, with participation from existing investors. Hiber aims to revolutionize the Internet of Things (IoT) industry by providing affordable and accessible satellite connectivity solutions. This article will delve into the details of Hiber’s funding round, its innovative technology, and the potential impact it could have on the IoT sector.

Expanding Connectivity Solutions for IoT

Hiber’s mission is to provide global connectivity solutions for IoT devices in remote areas where traditional networks are unavailable or unreliable. The company achieves this by utilizing a network of small satellites that orbit the Earth, enabling seamless communication between IoT devices and their users. Hiber’s technology is particularly well-suited for applications such as environmental monitoring, agriculture, logistics, and asset tracking.

The recent funding round, led by EQT Ventures and 20MTakahashi, will enable Hiber to further develop its satellite network and expand its service offerings. With the additional capital, Hiber plans to launch more satellites into space, enhancing coverage and capacity. This will allow the company to reach even more remote areas and provide connectivity to a wider range of IoT devices.

Revolutionizing IoT Connectivity

Hiber’s approach to IoT connectivity sets it apart from traditional cellular or Wi-Fi networks. By leveraging satellite technology, Hiber eliminates the need for costly infrastructure investments in remote areas. This makes it an attractive solution for industries that rely on IoT devices but operate in locations with limited connectivity options.

One of the key advantages of Hiber’s technology is its low-power consumption. IoT devices connected to Hiber’s network can operate on minimal energy, making them ideal for applications where battery life is crucial. This efficiency is achieved through Hiber’s proprietary protocol, which optimizes data transmission and reduces power consumption.

Enabling Sustainable Development

Hiber’s connectivity solutions have the potential to drive sustainable development in various sectors. For instance, in agriculture, Hiber’s technology can enable farmers to monitor soil moisture levels, weather conditions, and crop health in real-time. This data empowers farmers to make informed decisions regarding irrigation, fertilization, and pest control, leading to improved crop yields and reduced resource waste.

In the logistics industry, Hiber’s connectivity can enhance supply chain visibility by tracking the location and condition of goods in transit. This enables companies to optimize routes, reduce theft and spoilage, and ensure timely delivery. Furthermore, Hiber’s low-power consumption allows for long-lasting tracking devices, minimizing the need for frequent battery replacements.

Future Prospects and Conclusion

With the successful funding round led by EQT Ventures and 20MTakahashi, Hiber is well-positioned to expand its global reach and solidify its position as a leading provider of satellite connectivity for IoT devices. The additional capital will support the company’s ambitious plans to launch more satellites and enhance its service offerings.

Hiber’s innovative approach to IoT connectivity has the potential to revolutionize industries that rely on remote monitoring and data collection. By enabling affordable and accessible connectivity in areas where traditional networks are limited, Hiber opens up new possibilities for sustainable development and improved operational efficiency.

As the demand for IoT devices continues to grow, especially in sectors such as agriculture, logistics, and environmental monitoring, Hiber’s technology will play a crucial role in bridging the connectivity gap. With its recent funding success and ongoing commitment to innovation, Hiber is poised to shape the future of IoT connectivity and contribute to a more connected and sustainable world.

Ambika Taylor

Ambika Taylor

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