The funds will be used to strengthen Wirepas’ longer-term research and to develop the company's Massive IoT technology. Wirepas will also be hiring with a focus on development, testing and delivery, all aspects needed to successfully bring the solution to market.
The company says its purpose-built non-cellular 5G technology, operating on a free global 1.9 GHz spectrum, lets any enterprise set up and manage its own network autonomously without the need for operators and will enable massive decentralized, scalable, high-density and long-range network applications.
“Thanks to the great market interest and lead customers’ fast time to market targets, we have decided to accelerate the first non-cellular 5G product development. This new injection of funds will help us continue to do what’s in our customers best interest, and that’s getting it done efficiently and as soon as possible. We target to have the commercial launch in 2022,” said Teppo Hemiä, CEO of Wirepas.
The demand for affordable networks is high for businesses looking for scalable, high-density applications in a multitude of areas such as smart meters, building management systems, logistics and smart cities.
This new 5G standard means that for the first time, any business, regardless of size, will be able to digitize their business with reliable and affordable 5G connectivity.
Wirepas claims that its technology will allow industries to run their own independent IoT systems and develop new services around their own expertise and business domain. It will also enable them to store and consume the data generated in the way they see best fitting for them (on premises, in public cloud or anything in between), democratizing the data ownership.
