Sweden-based startup Hiber has recently secured $20 million in a funding round led by EQT Ventures. Hiber, founded in 2016, aims to provide affordable and accessible global connectivity for Internet of Things (IoT) devices. The company offers a satellite-based network that enables IoT devices to connect to the internet from anywhere on the planet, even in remote areas with limited infrastructure. This latest funding round will help Hiber expand its network coverage and further develop its technology.
Expanding global connectivity for IoT devices
Hiber’s mission is to bridge the digital divide by providing connectivity to IoT devices in areas where traditional networks are unavailable or too expensive. The company’s low-cost, low-power satellite network allows IoT devices to transmit data without relying on existing infrastructure. This is particularly valuable for applications such as agriculture, environmental monitoring, and asset tracking, where devices need to operate in remote locations.
With the new funding, Hiber plans to expand its network coverage and increase the number of satellites in orbit. Currently, the company operates two nano-satellites, which provide global coverage. The additional funds will enable Hiber to launch more satellites, improving network capacity and reducing latency. This expansion will allow Hiber to serve a larger customer base and support a wider range of IoT applications.
Enabling affordable IoT connectivity
One of Hiber’s key differentiators is its focus on affordability. Traditional satellite-based connectivity solutions are often expensive, making them inaccessible for many IoT use cases. Hiber aims to change this by offering a cost-effective alternative that enables widespread adoption of IoT technology.
By leveraging nanosatellite technology and optimizing data transmission protocols, Hiber has been able to significantly reduce the cost of connectivity. This makes it feasible for businesses and organizations of all sizes to deploy IoT devices and benefit from the insights and efficiencies they provide. With the additional funding, Hiber plans to further drive down costs and make IoT connectivity even more affordable.
Partnerships and customer base
Hiber has already established partnerships with various organizations to deploy its satellite-based connectivity solution. One notable partnership is with the European Space Agency (ESA), which has supported Hiber’s development through its Business Applications program. This collaboration has enabled Hiber to access technical expertise and funding opportunities, accelerating its growth.
Hiber’s customer base includes a wide range of industries and sectors. For example, in agriculture, Hiber’s connectivity solution allows farmers to monitor soil moisture levels, weather conditions, and crop health remotely. This data helps optimize irrigation, reduce water consumption, and increase crop yields. In the logistics sector, Hiber’s technology enables real-time tracking of assets, improving supply chain visibility and reducing theft or loss.
The future of Hiber and IoT connectivity
With the latest funding round led by EQT Ventures, Hiber is well-positioned to further expand its network coverage and enhance its technology. The company aims to become a global leader in satellite-based IoT connectivity, enabling businesses and organizations worldwide to leverage the power of IoT devices.
As IoT adoption continues to grow across industries, the demand for affordable and reliable connectivity solutions will only increase. Hiber’s innovative approach to satellite-based connectivity addresses this need, providing a cost-effective alternative to traditional networks. With its expanding network coverage and commitment to affordability, Hiber is poised to play a significant role in shaping the future of IoT connectivity.
In conclusion, Sweden-based startup Hiber has secured $20 million in funding led by EQT Ventures to support its mission of providing affordable and accessible global connectivity for IoT devices. With its satellite-based network, Hiber enables IoT devices to connect from anywhere on the planet, even in remote areas. The company’s focus on affordability and partnerships with organizations like the European Space Agency have helped it establish a diverse customer base across industries. With the additional funding, Hiber plans to expand its network coverage, increase the number of satellites in orbit, and further drive down the cost of IoT connectivity. As IoT adoption continues to rise, Hiber is well-positioned to become a global leader in satellite-based IoT connectivity.