UnaBiz, a Singapore-based Internet of Things (IoT) service provider, has raised over US$25 million in its Series B funding round led by SPARX Group. The round was oversubscribed, with participation from CDIB, G K Goh and Thaioil, according to the UnaBiz.
The fresh funds will be used to strengthen the scaleup's foothold in strategic regions such as Japan, South-East Asia and EMEA via local offices and M&A operations, and to sustain the growth trajectory of UnaConnect, the company's latest data platform offering that aims to bridge the glaring gap between fragmented IoT data collection technologies and enterprise systems.
"Our vision is to accelerate corporate digital transformation with optimised end-to-end solutions which include hardware, software and connectivity. We look forward to growing our team in each area and working with vertical experts to champion a unified low-power wide-area network (LPWAN) world," said Henri Bong, co-founder and CEO of UnaBiz. "The IoT industry has become too fragmented and it is our mission to simplify it and eradicate frictions to truly enable massive IoT, from 0G to 5G."
In 2018, UnaBiz raised over US$10 million in its Series A funding round. Leveraging Taiwan's solutions design, industrialization and supply chain ecosystem, and Singapore's innovation platform, the company said it made remarkable strides in three major industries: water and gas metering, asset tracking, and facilities management. Consequently, UnaBiz has been servicing Japan's largest remote gas meter reading infrastructure, the largest autonomous tracked beer kegs fleet in Australia and New Zealand, and one of the most ambitious integrated facility management projects for an educational institution in Singapore.
"UnaBiz is focused on creating value for the ecosystem," said Philippe Chiu, co-founder and CTO of UnaBiz. "We see a transition in the demands of the IoT market from competitive drivers to carbon reduction commitments. On top of adopting sustainability reporting, responsible consumption and production practices, the new funds will be channelled to develop specific expertise and services that will help our customers reach their energy goals. On top of energy-optimised sensors, pattern detection based on Artificial Intelligence is key in our new data-focused offerings," he added.
SPARX Group, an independent investment company based in Tokyo, Japan, manages over US$15 billion worth of assets, and led the round through the Mirai Creation Fund II, a US$700 million fund backed by the likes of Toyota Motor Corporation and Sumitomo Mitsui Banking Corporation.