Idinvest et al. in €15m Sigfox round

Elaia, Partech, Intel and Ixo are all existing backers of the company.

BPI invested via the Fonds Ambition Numérique (also known as FSN PME), a €400m fund under the state-backed Programme d'Investissements d'Avenir. The vehicle provides capital injections in the range of €1-10m to French IT companies.

Previous funding
In January 2011, Elaia, Ixo and Partech provided €2m in early-stage funding to Sigfox.

This was followed by a €10m funding round in September 2012. New investor Intel supplied €3.5m of the total and led the round, which saw existing backers Elaia, Ixo and Partech return to reinvest in the business.

Company
Founded in 2009 and headquartered in Toulouse, Sigfox is a cellular network operator specialising in low-throughput machine-to-machine (M2M) and internet-of-things communications.

The company has developed ultra-narrow-band technology, which is designed to operate a network on unlicensed frequency bands while combining long-range data transmissions.

Sigfox claims its technology reduces power consumption and emission. The company employs 60 staff.

People
Ludovic Le Moan is the founder and CEO of Sigfox. Marie Ekeland is a managing partner at Elaia, while Jean-Marc Patouillaud is a managing partner at Partech and Jean-Luc Riviere is an associate director at Ixo. Benoist Grossmann is a managing partner at Idinvest and Frédéric Le Brun is an investment director at BPI.

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• Topics
• Expansion
• France
• Technology
• France
• IDInvest Partners (AGF Private Equity)
• Intel Capital
• iXO Private Equity