Australian Massive Internet of Things (M-IoT) company Thinxtra has completed its pre-IPO funding round with US$5 million raised from new and ongoing investors.
Thinxtra provides sustainable end-to-end M-IoT solutions that create additional revenue from the insights of untapped data. It is the owner and operator of the only public 0G Network dedicated to the IoT in Australia, New Zealand, Hong Kong and Macau. Thinxtra’s network transmits more than two billion messages each month.
The pre-IPO funding round has raised US$5 million, with Blue Ocean Equities among its investors.
Thinxtra will use the capital to expand investment and partner coverage in Australia, New Zealand, Hong Kong and Macau ahead of a planned public listing this year.
This includes the ramp up of sales and marketing resources and significant Drive in the implementation of its inaugural partner program. Thinxtra will also continue to develop productised solutions for new markets.
“Thinxtra has matured well beyond the stage of proving the impact and return on investment (ROI) of our Massive IoT technology. We can completely transform how organizations manage their assets,” said Nicholas Lambrou, CEO at Thinxtra.
“Rising costs and environmental responsibility are putting pressure on organizations to look for operational and energy efficiencies.”Click below to share this article