Nestwave Secures Additional Capital to Accelerate Deployment of Low-Power Geolocation Solutions for the IoT ACCUEIL / NUMÉRIQUE / NESTWAVE SECURES ADDITIONAL CAPITAL TO ACCELERATE DEPLOYMENT OF LOW-POWER GEOLOCATION SOLUTIONS FOR THE IOT PARIS, April 14, 2021 – Nestwave, a provider of low-power geolocation IP and cloud services for Internet of Things (IoT) applications, today announced that it has secured a €2.4 million round of financing from the European Innovation Council, the European Commission’s newly established venture capital fund, and from current investors Sofimac Innovation (Paris, France) and The Faktory Fund (Liege, Belgium). The new financing round will enable Nestwave to further accelerate the rollout of its hybridsignal global navigation satellite system (GNSS) and cellular positioning technologies. “We are grateful for the support from the European Innovation Council who, together with our current investors Sofimac and The Faktory Fund, believe in and continue to back our vision for making location accessible to low-power IoT devices,” said Ambroise Popper, CEO of Nestwave. “This new round of financing will enable us to accelerate the pace of our technology innovation, product development and commercial deployment of positioning solutions for IoT applications.” Nestwave’s geolocation solution enables IoT modem chip makers and DSP partners to implement lowpower, cost-effective geolocation for asset tracking, personal trackers and a wide range of new IoT applications. Purpose-built for the IoT, the Nestwave solution reduces power consumption significantly compared to traditional GNSS offerings while eliminating the need for a dedicated positioning chipset. “Nestwave is very well positioned to capitalize on the growing nexus of geolocation and IoT technologies,” said Martin Bruncko, EIC Fund Investment Committee member. “This new round of funding for Nestwave will support the momentum for its unique, low-energy and high precision technology targeting applications in areas such as asset tracking, logistics and transportation.” Nestwave has developed a DSP software solution that enables modem providers in the IoT market (supporting LTE cat M1, NB-IoT, LoRa or Sigfox) to offer a cost-effective, accurate geolocation solution integrated within their platform. Based on more than 10 patents issued and pending, the Nestwave solution improves accuracy in urban canyon environments, increases indoor coverage, and reduces power consumption as compared to existing geolocation solutions. “Nestwave is opening new opportunities in the IoT and cloud services market by eliminating the need for dedicated positioning chipsets, improving accuracy and reducing power dissipation,” said Simon Alexandre, general manager and partner, The Faktory Fund. “Led by a team of successful entrepreneurs and geolocation experts, Nestwave has created innovative low-power positioning technology that helps chipset and product makers develop and bring to market new and innovative solutions for IoT geolocation,” said Nicolas Boulay, senior partner, Sofimac Innovation. “Nestwave is a gamechanger in the geolocation market and for larger IOT deployments.” 210414-nestwave-new-financing-round-pr-final About Nestwave Nestwave SAS, based in Paris, France, is a provider of advanced geolocation engines purpose-built for IoT applications. IoT modem and wireless MCU chipmakers use Nestwave software to enable highperformance, low-power location capabilities, eliminating the need for a dedicated positioning chipset. To learn more, please visit us at www.nestwave.com. About the European Innovation Council Fund Established in June 2020, the European Innovation Council Fund (EIC Fund) is a breakthrough initiative of the European Commission to make direct equity and quasi-equity investments (between €500.000 and €15 million) in European high impact and deep tech start-ups and scale ups. The EIC Fund provides patient capital and invests in companies from any sector, across all EU countries and countries associated to Horizon 2020. The Fund pays particular attention to empower and support female founders as well as contributing to reduce the innovation divide among EU countries. The EIC Fund aims to fill a critical financing gap and its main purpose is not to maximise financial investment returns, but to have a high impact by accompanying companies with and disruptive technologies in their growth. Its objective is to crowd in market players, further sharing risks by building a large network of capital providers and strategic partners suitable for co-investments and follow on funding. To learn more about the EIC, visit https://eic.ec.europa.eu/index_en. About The Faktory Fund The Faktory Fund is a private Tech Startup Accelerator and Seed Investment Fund founded by Pierre L’Hoest, the Belgian entrepreneur known for his TV slow motion technology. The Faktory Fund is currently incubating and funding startups in the areas of Internet of Things and connected devices (B2B). www.thefaktory.com About Sofimac innovation Sofimac Innovation is an independent management company certified by the financial markets regulator (AMF) and dedicated to technological and innovative investment. We are present in Paris, Lyon, Rennes and Marseille, as close as possible to the major innovation centers in France. We support innovative start-ups in their growth projects with a wide range of investment vehicles. We invest in breakthrough technologies in the Engineering Sciences, digital, and Health & Nutrition sectors. Our funds, backed by renowned industrial corporates, ETI, banks, BPI, Universities and Schools, are offering a unique and innovative ecosystem to our portfolio companies. Sofimac Innovation currently manages nine funds comprising more than 90 active companies. www.sofimacinnovation.com ARTICLES RÉCENTS Semtech and eLichens Prevent Gas Leak Accidents in Cities With New Sensor Utilizing LoRaWAN® Isorg raises €16 million in series C financing Microphyt Announces Launch of SCALE, the world’s first fully-integrated microalgae biorefinery La start-up Buldi lève 1,4 million d’euros pour digitaliser la relation commerciale dans le secteur de la construction individuelle Diabeloop : DBLG1 self-learning algorithm: easy to use for optimized and personalized T1D management CATÉGORIES Actualités Sofimac Innovation Non classé Numérique Sciences de l’ingénieur et Ecotechnologies Sciences de la vie ARCHIVES Sélectionner un mois juillet 2021 juin 2021 mai 2021 avril 2021 mars 2021 février 2021 janvier 2021 décembre 2020 novembre 2020 octobre 2020 septembre 2020 juillet 2020 juin 2020 mai 2020 avril 2020 février 2020 janvier 2020 décembre 2019 novembre 2019 octobre 2019 septembre 2019 juillet 2019 juin 2019 avril 2019 mars 2019 février 2019 janvier 2019 septembre 2018 août 2018 mai 2018 avril 2018 décembre 2017 novembre 2017 octobre 2017 septembre 2017 juin 2017 mars 2017 janvier 2017 décembre 2016 novembre 2016 septembre 2016 mai 2016 avril 2016 novembre 2015 octobre 2015 septembre 2015 mai 2015 NOUS CONTACTER 6 rue Newton 75116 Paris projets@sofimac-im.com +33 (0) 1 42 56 66 00 RESTEZ CONNECTÉS Politique de vote Règlement SFDR Critères ESG Traitement des réclamations Prévention et gestion des conflits d’intérêts Mentions légales et protection des données © 2021 Tous droits réservés. Sofimac Innovation fait partie du groupe SOFIMAC IM Depuis le 1er août 2021, les équipes du Groupe Sofimac ont rejoint UI Investissement pour constituer une plateforme indépendante unique et capable d’accompagner les entreprises à tous les stades de leur développement. Avec ses 13 implantations régionales, UI Investissement accompagne les entreprises françaises qui contribuent à l’activité des territoires. Ses 70 collaborateurs s’engagent et s’investissent pour faire émerger et développer des acteurs économiquement et durablement performants. Pour visiter le site d’UI Investissement, cliquez ici Pour continuer sur le site Sofimac Innovation ou accéder à l’espace investisseurs sécurisé, fermez cette fenêtre pop-up.