Senet closes $16 million funding round
Investment to boost Portsmouth firm’s development of low-power wide area network
Senet Inc., a Portsmouth-based provider of cloud-based software and services for Internet of Things networks, has secured a $16 million funding round that the firm says positions it to accelerate deployment of its low-power wide-area network, or LoRaWAN, across the United States.
The funding, led by Fisk Ventures, follows what Senet says has been a significant increase in demand from the energy and utility sector.
Built in public, private and hybrid configurations, , Senet’s LoRaWAN network supports a variety of municipal, industrial and enterprise initiatives focused on automation, service delivery and sustainability.
Senet says it operates the largest LoRaWAN network in the United States and provides coverage and connectivity readiness in over 80 countries
The funds will also be used to expand global business development and co-marketing activities with network operators, tower companies and radio access network (RAN) providers, said Bruce Chatterley, Senet CEO.
Senet was launched in 2014 to create a low-cost data network to rapidly deploy, securely connect and manage millions, and ultimately billions, of low-power, low-cost sensors.
“Over the past six years we’ve seen a wide range of businesses embrace IoT and have learned that creating a bridge between the physical and digital worlds is far more complex than most people realize,” said Chatterley. “Building on our experience and with the support of our investors, we will continue to strive toward delivering ubiquitous low-cost network connectivity, zero-touch device configuration and device monitoring and management at massive scale in support of our customers’ needs.”