Wirepas, a firm specialising in scalable and reliable IoT networks, has secured a significant investment of €20.7 million. This funding round, spearheaded by Highland Europe, aims to propel Wirepas’s mission of revolutionising wireless connectivity for enterprises across the globe. Joining Highland Europe in this endeavour were Amalfi, IQT, and several returning investors, including ETF Partners, KPN Ventures, Vito Ventures, and Vesa Laisi.
Holding nearly 100 patents in wireless technology, Wirepas addresses the core challenges that have historically hindered Massive IoT from realising its transformative societal impact. Massive IoT, characterised by interconnecting millions of devices across extensive networks, is critical for enterprises and industries. These networks enable the monitoring and utilisation of vast data, assets, and machinery. However, traditional connectivity solutions have struggled to fully harness the capabilities of smart buildings, logistics, smart meters, and agriculture, until now.
Teppo Hemiä, CEO of Wirepas, elaborated on the vision behind their work. He highlighted the long-standing appeal of IoT in automating processes and gathering valuable data. Yet, the gap between the limited, centralised IoT solutions of the past and the current needs has been significant. Wirepas’s innovative approach promises to bridge this gap, positioning the company as a key contributor to the non-cellular 5G standard of ITU-R. Hemiä expressed gratitude for the team’s commitment and Highland Europe’s recognition of Wirepas’s groundbreaking technology.
Wirepas’s unique approach revolutionises IoT connectivity through autonomous and decentralised networks. Utilising advanced algorithms and a distinctive mesh architecture, the system can connect up to 16 million networks, each potentially comprising 4 billion devices. This decentralised model, where each device acts as an access point for others, ensures minimal use of the wireless spectrum without compromising efficiency. This architecture not only expands network range and resilience but also reduces the costs and energy needed for large-scale IoT networks. In case of sensor failure, Wirepas networks can reroute data and reconfigure autonomously, maintaining continuous operation crucial in settings where connectivity loss can lead to significant issues.
Laurence Garrett, Partner at Highland Europe, lauded Wirepas’s technology as not merely an enhancement but a paradigm shift in the IoT sector. By offering scalable and cost-effective solutions, Wirepas tackles the primary obstacles to broader IoT adoption.
The fresh funding will fuel Wirepas’s global expansion and advancement of its technology, consolidating its position as a leader in IoT connectivity. The company enjoys the support of both new and returning investors, alongside backing from Inventure, Karma, and Tesi.
Wirepas, originally a spin-off from the University of Tampere, Finland, a leading institution in wireless and mobile technology, has since expanded its global footprint. With offices in Australia, Germany, Finland, France, India, and the US, the company collaborates with over 160 partners. Wirepas provides solutions in smart tracking, smart building, smart manufacturing, and smart metering, connecting more than 7 million devices worldwide.