Wyld nets £400k to accelerate growth in IoT and mobile mesh markets
Cambridge technology business Wyld Networks has secured a new £400,000 investment in the form of a Convertible Unsecured Loan Note, to strengthen its growing pipeline of opportunities in mobile mesh networks and wireless IoT connectivity.
Mesh networks and IoT have a wide range of applications and will also play an important role in the current and post-COVID-19 era.
Wyld says its innovative patent-pending, mesh technology is ideally suited to manage access and social distancing within communities to help reduce the potential spread of viruses.
The company’s mobile device-to-device notification and location-based geofencing capabilities can help people in healthcare, retail, transportation, manufacturing and office environments get back to work safely and stay informed.
Wyld's IoT partnership with one of the world's largest satellite companies will enable mass sensor-to-satellite growth for agriculture, transportation and environmental management.
This partnership will deliver data flow from low-power sensors wherever they are in the world, including where there is no alternative or affordable connectivity option available.
Everything from soil moisture sensors and weather stations for farming, to asset tracking in logistics will benefit from seamless, globally connected LoRaWAN coverage.
Alastair Williamson, CEO of Wyld Networks, said: “This new investment strengthens Wyld's position globally as a leading innovator in connectivity for people and things and is a significant endorsement of our technology and excellent team.
“Wyld is providing advanced IoT solutions to a growing list of customers and with the predicted exponential growth of mobile mesh and IoT applications, we are ideally placed to take advantage of these exciting opportunities.”