In a grand ceremony that attracted France’s economic minister, Sigfox announced today that it signed a major partnership with Samsung that could add significant momentum to its Internet of Things platform.
In addition, Samsung also said it was investing an undisclosed sum in Sigfox. The deal comes just a few months after Sigfox raised $115 million, the largest round of venture capital in the history of France.
The company has also said it could have raised far more, but decided to wait as it builds out its current network. Sigfox operates an IoT communications network that allows connected devices to send short packets of information at low costs and low battery consumption.
Investors clearly believe Sigfox, based in the southwest of France near the city of Toulouse, has the potential to accelerate the IoT revolution. Samsung is the latest to jump on board.
Samsung said it would integrate Sigfox’s technology into its own IoT platform, a move that will make Sigfox more attractive to developers who are building connected objects and are trying to decide which communication protocol to embrace. Sigfox is currently in the process of building out its network in the U.S.
“Samsung is fueling innovation and making it very easy for developers to create new applications and services that will help deliver the potential of the Internet of Things,” said Sigfox chief executive Ludovic Le Moan, in a statement.
The ceremony, held in Paris, included Young Sohn, president and chief strategy officer of Samsung Electronics.
“At Samsung, we believe that the Internet of Things will deliver huge benefits — to society and to us as individuals,” Sohn said in a statement.
As the French government seeks to jump-start the country’s economy and encourage more startup activity, IoT is one area of innovation in which officials believe the country can be competitive. As such, the announcement today also included Emmanuel Macron, France’s economic minister, who hailed the partnership and Sigfox’s success as a milestone for the country’s tech economy.
— Bruno Crémel (@brunocremel) June 15, 2015