SUNNYVALE, Calif.--(BUSINESS WIRE)--TrackNet, Inc., a cutting-edge LoRaWAN Internet of Things (IoT) solutions provider for consumer and industry, today announces a $7 million Series A investment from Minol Zenner Group and Gemtek Corporation.
TrackNet will use the funds to develop complete end-to-end consumer, tracking, and facility management IoT solutions with unparalleled scalability to enable a new era of solutions for a more sustainable world. The company is headquartered in Rapperswil, Switzerland, with an office in Sunnyvale, CA.
TrackNet is created by a founding team of experts from Semtech, IBM, and Cisco who played critical roles in bringing LoRa LPWAN technology to market and built the ecosystem that became the foundation of the LoRa Alliance, the fastest growing technology alliance in IoT. TrackNet will unveil its first complete LoRa solution at Mobile World Congress (MWC) in Barcelona February 27 through March 2.
LPWAN is expected to make up the volume of connected devices and growth for the Internet of Things. LoRa is the leading technology in the LPWAN space due to its long-range capabilities and ability to create low cost, long battery life sensors. With low cost in-building and in-home hubs or gateways, LoRa also has significant advantages in minimizing network deployment costs and for usage in enterprise solutions. TrackNet is a member of the LoRa Alliance which is ensuring interoperable LoRaWAN networks and certified devices that can be utilized globally.
Gemtek is a leading original equipment manufacturer (OEM) for telecommunications equipment and is developing a variety of LoRa products. “We invested in TrackNet due to the expertise the founding team brings and scalability of its business model,” said Howard Chen, CEO of Gemtek. “We expect significant growth in the LPWAN market over the next few years and want to align our products and investments to capitalize on this growth.”
Minnol Zenner Group is a leader in the global smart meter and sub-metering markets. “We plan to utilize TrackNet solutions to transform our metering business and enable new business models,” said Alexander Lehmann, CEO and Chairman of Minol Zenner Group. “We believe LPWAN will enable many different high-volume use cases in consumer and industry to create a more sustainable world.”
TrackNet provides highly scalable LoRaWAN IoT solutions for consumers and industry, focusing on ease of use and unparalleled scalability to enable a new era of exponentially growing LPWAN deployments for a sustainable world. TrackNet is developing end-to-end solutions including sensors, gateways, and apps with optimized user experience for targeted LPWAN and IoT applications. The company is a contributing member of the LoRa Alliance and the TrackNet team has been instrumental in specifying, building, and establishing LoRaWAN and the LoRa Alliance for more than five years. It has been brought to life by former Semtech and IBM employees with cumulated decades of real-world experience in embedded and RF systems, wireless networks, network management, end-to-end security, and solutions development for the whole spectrum from small-scale private networks to carrier-grade deployments. TrackNet has offices in Switzerland and California, USA and is looking to build a talented, passionate team to realize IoT and LPWAN applications. More information is at www.tracknet.io.
About Minol Zenner Group
The family-run Minol-ZENNER Group produces and markets measuring equipment and offers measuring services for global markets. Minol Messtechnik W. Lehmann GmbH & Co. KG is a world-leading provider of meter reading services for the housing sector. Headquartered in Leinfelden-Echterdingen, Germany, Minol maintains a nationwide presence through 20 branches. In addition to meter reading and energy cost billing, Minol offers a range of services to assist property owners in lowering their operating costs and ensuring compliance with statutory obligations such as legionella sampling of domestic water and the installation and maintenance of smoke detectors. ZENNER International GmbH & Co. KG produces and markets measuring equipment for global markets. Between them, Minol and ZENNER have a combined workforce of more than 2,500 and maintain a local presence through subsidiaries and sales partners in more than 40 countries. For more information please visit minol.de and zenner.de
About Gemtek Corporation
Gemtek is a world-leading provider of wireless broadband solutions from residential to business. Established in 1991 and headquartered in Taiwan. Gemtek was one of the earliest companies to provide WLAN products and remains a pioneer and leader in the telecoms market based on its expertise in such areas as RF/microwave design, LTW, wireless networks, broadband and IP telephony. In addition, the company was instrumental in the development of the LPWAN network and is an early provider of LPWAN IoT solutions. For more information visit www.gemteks.com.