CAMBRIDGE, England--(BUSINESS WIRE)--Telensa, which provides end-to-end smart city solutions incorporating low power wide area (LPWA) wireless technology, today announced funding of $18M to fuel its next stage of profitable growth. The funding includes equity funding from Environmental Technologies Fund and debt funding from Silicon Valley Bank. It will be used to support expansion to meet growing demand in the smart cities market.
Telensa makes wireless smart city control applications, including the world’s most widely deployed smart streetlight solution, with over 50 city and regional networks deployed in 8 countries and a project footprint covering over 1 million streetlights.
Fundamental to Telensa’s success is its LPWA Ultra Narrow Band (UNB) radio system, which combines low-cost, long range, long battery life and 2-way communication for massive numbers of devices. According to Machina Research, with a projected 3.8 billion connections, LPWA systems will dominate wide area wireless connectivity for Machine-to-Machine (M2M) by 2024.
Telensa is experiencing strong demand growth in three areas:
- The worldwide rollout of energy-efficient LED street lights. Connecting these lights is becoming mandatory as it unlocks further energy savings, reduces maintenance costs and enables flexible lifetime control of local lighting levels.
- Streetlights are increasingly being seen as the ideal low-cost hub for smart city sensor applications, such as weather and pollution monitoring.
- New Smart City applications that connect to the city’s UNB network. The company’s smart parking solution, for example, already includes some of the world’s largest deployments such as Moscow and Shenzhen.
“The smart city controls market is awash with pilot applications looking for a business case, LPWA networks waiting for a critical mass of devices, and vendors hoping for a path to profit,” said Will Gibson, CEO Telensa. “We’re different. Our networks are proven at commercial scale and our applications are sold on a sustainable business case. This investment is recognition of Telensa’s success and enables us to expand to meet the growing demand for our solutions.”
“Smart city technologies are about harnessing previously isolated information and infrastructure to drive energy efficiency, automation and better decision-making,” said Patrick Sheehan, Founder and Partner at Environmental Technologies Fund. “Telensa’s success is built on robust wireless technology and an application business case that works for the whole ecosystem. We look forward to helping the team accelerate the growth of this thriving business.”
“Telensa has an impressive track record of technical innovation and has been consistently winning new clients in the US, Europe and the Middle East,” said Andrew Hunter, a Director at Silicon Valley Bank’s UK Branch. “We’re delighted to provide additional capital to enable Telensa’s further growth.”
Telensa makes wireless smart city control applications, including the world’s most widely deployed smart streetlight solution. Based on a compelling business case with proven scalability, Telensa’s solutions also provide a low-cost platform to add multiple city-wide sensor and control applications. The company’s smart parking solution includes some of the world’s largest deployments such as Moscow and Shenzhen.
Fundamental to Telensa’s success is its Low Power Wide Area (LPWA) Ultra Narrow Band (UNB) radio system, which has the unique combination of low cost, long range, long battery life and 2-way communication for massive numbers of devices. With over 9 million devices across 30 countries using UNB, it is easy to see why it is fast becoming the deployment standard for smart city control applications. (www.telensa.com)
Together with industry leaders including Cisco, Accenture and BT, Telensa is a founding member of the Wireless Internet of Things Forum (WIoTF). Created to drive standards adoption and establish common wide area smart city approaches, the WIoTF is committed to uniting the growing ecosystem and accelerating the adoption of wide-area wireless IoT. (www.wireless-iot.org)
About Environmental Technologies Fund
Environmental Technologies Fund provides entrepreneurs and investors with access to one of the most experienced venture and growth capital investment teams in Europe.
Our business is dedicated to investing in great growth companies with global aspirations that are making a big environmental impact. We are backed by some of the world's leading institutional investors and aim to provide them with outstanding returns.
Environmental Technologies Fund 2 L.P. is supported by the European Union through the “Competitiveness and Innovation Framework Programme” (“CIP”).
About Silicon Valley Bank
For more than 30 years, Silicon Valley Bank (SVB) has helped innovative businesses and their investors move bold ideas forward, fast. SVB provides a range of targeted financial services and expertise through its office in the UK. With commercial and international banking services, SVB helps address the unique needs of innovators. Forbes named SVB one of America’s best banks (2015) and one of America’s best-managed companies (2014). In 2014, SVB was recognised as Service Provider of the Year for the third year in a row at the Investor Allstar Awards in London.
Learn more at www.svb.com/uk.