Sweden-based Hiber raises $20M in Series B funding led by EQT Ventures
Sweden-based Hiber, a global Internet of Things (IoT) connectivity provider, has recently announced the successful completion of its Series B funding round, raising $20 million. The funding round was led by EQT Ventures, a leading European venture capital firm. Hiber aims to expand its global IoT connectivity network and further develop its satellite-enabled solutions. This investment will enable Hiber to accelerate its growth and continue providing reliable and cost-effective connectivity solutions to customers worldwide.
Expanding the Global IoT Connectivity Network
Hiber’s primary focus is to provide affordable and accessible IoT connectivity to remote and underserved areas around the world. With the latest funding, Hiber plans to expand its satellite-enabled network infrastructure, ensuring seamless connectivity for IoT devices in even the most remote locations. This expansion will enable businesses and organizations operating in areas with limited infrastructure to leverage IoT technology for improved efficiency, monitoring, and data collection.
The company’s unique approach utilizes low-power, low-cost satellite technology, making it an ideal solution for applications such as agriculture, logistics, environmental monitoring, and asset tracking. Hiber’s network is designed to support a wide range of IoT devices, from sensors and trackers to smart meters and remote monitoring systems.
Driving Innovation through Satellite-Enabled Solutions
Hiber’s satellite-enabled solutions have already gained significant traction in various industries. By leveraging its global IoT connectivity network, Hiber enables businesses to collect real-time data from their assets and devices, allowing for more informed decision-making and optimization of operations.
For instance, in the agriculture sector, Hiber’s connectivity solutions enable farmers to monitor soil moisture levels, weather conditions, and crop health remotely. This data can help optimize irrigation schedules, reduce water consumption, and improve overall crop yield. Similarly, logistics companies can utilize Hiber’s connectivity to track and monitor shipments in real-time, ensuring timely deliveries and minimizing losses.
Partnerships and Collaborations
Hiber has also been actively partnering with organizations and industry leaders to further enhance its offerings. The company has collaborated with leading IoT platform providers, device manufacturers, and system integrators to ensure seamless integration and compatibility with existing IoT ecosystems.
Furthermore, Hiber has been working closely with government agencies and non-profit organizations to address social and environmental challenges. By providing affordable IoT connectivity to remote areas, Hiber contributes to initiatives such as precision agriculture, wildlife conservation, and disaster response. These partnerships not only expand Hiber’s customer base but also enable the company to make a positive impact on a global scale.
Future Outlook and Conclusion
With the successful completion of its Series B funding round, Hiber is well-positioned to continue its expansion and drive innovation in the IoT connectivity space. The investment from EQT Ventures will not only support the growth of Hiber’s global network but also enable the company to invest in research and development, further enhancing its satellite-enabled solutions.
Hiber’s commitment to providing affordable and accessible IoT connectivity to underserved areas aligns with the growing demand for IoT solutions worldwide. As more industries embrace IoT technology, the need for reliable and cost-effective connectivity solutions becomes increasingly crucial. Hiber’s unique approach utilizing satellite technology fills this gap, enabling businesses and organizations to harness the power of IoT regardless of their location.
In conclusion, Hiber’s recent funding round marks a significant milestone in the company’s journey towards becoming a global leader in IoT connectivity. With its expanding network infrastructure, innovative satellite-enabled solutions, and strategic partnerships, Hiber is poised to revolutionize the way businesses and organizations leverage IoT technology. As the world becomes increasingly interconnected, Hiber’s mission to provide universal IoT connectivity will play a vital role in shaping the future of industries worldwide.
