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IoT developer UnaBiz bags USD 25 million Series B

Written by Stephanie Pearl Li Published on     2 mins read

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The firm said its valuation has tripled since its founding 

Singapore-based UnaBiz, which provides internet-of-things services at scale, has landed USD 25 million in a Series B funding round led by Tokyo-listed asset manager Sparx Group. The company has raised USD 35 million in total since its inception.

UnaBiz will utilize the fresh capital to strengthen its presence across Japan, Southeast Asia, as well as Europe, the Middle East, and Africa (EMEA) regions by establishing local offices and performing mergers and acquisitions. The cash will sustain the growth of the firm’s data platform services.

“Our vision is to accelerate corporate digital transformation with optimized end-to-end solutions, which include hardware, software, and connectivity,” said Henri Bong, co-founder and CEO of UnaBiz in the release. “The IoT industry has become too fragmented and it is our mission to simplify it and eradicate friction to truly enable massive IoT, from 0G to 5G.”

Founded in 2016, UnaBiz offers low-cost IoT connectivity, hardware design, production, and software development. The firm has partnered with Sigfox to operate its LPWAN network in selected markets under a revenue-sharing model.

In 2020, the firm logged USD 18 million in revenue and managed to break even, UnaBiz co-founder Philippe Chiu told KrASIA in a previous interview. The company is also eyeing countries like Thailand, Malaysia, and Indonesia to set up new manufacturing facilities, Chiu revealed.

The latest funding round, which involved Taiwanese VC firm CDIB Capital Group, Singapore-based investment company G. K. Goh Holdings, and TOP Ventures, the investment arm of Thai Oil Public Company Limited, comes three months after the firm set up a new office in Tokyo.

Asia Pacific’s IoT market is set to reach USD 437 billion in value by 2026, a 350% increase from USD 97 billion in 2020 with a 29% compound annual growth rate (CAGR), according to market research by Frost & Sullivan.

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