Telensa, a specialist in wireless smart city applications, has confirmed it will invest $18 million (£12.7 million) to fund new end-to-end smart city solutions that use low power wide area (LPWA) wireless technology.
This funding includes equity support from the Environmental Technologies fund along with debt funding from Silicon Valley Bank. The cash will be used to help the technology’s expansion and meet increasing demand in the smart cities industry.
As a specialist in wireless smart city control applications, Telensa supports more than 50 city and regional networks deployed over 8 countries, while boasting a project footprint covering more than one million streetlights.
A key part of Telensa’s services is its Ultra Narrow Band (UNB) radio system, combining a long battery life and two-way communication for a number of devices. LPWA systems will be widely used in Machine-to-Machine technology by 2024.
The company has recorded a strong demand in the rollout of energy-efficient LED street lights, which offer further energy savings and reduce maintenance expenses.
In addition, streetlights are often seen as the ideal low-cost hub for smart city sensor applications, including weather and pollution monitoring.
Will Gibson, chief executive officer of Telensa, said: “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.
“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.”
Mr Gibson explained that Telensa’s networks are proven to work on a commercial scale and is a recognition of its success and allows the business to extend to meet the rising demand for the technology.