Wirepas to raise €10 million from Karma VC and Tesi.

Wirepas, a Tampere, Finland-based software company that has built a wireless connectivity platform for the Industrial Internet of Things (IIoT), announced the completion of a €10 million ($11.8M) capital funding round.

The money was raised from existing investors Karma and Tesi.

Proceeds will be used to strengthen Wirepas’ longer-term research and to further develop the leading Massive IoT technology. Wirepas will also be hiring with a focus on development, testing and delivery, all aspects needed to successfully bring the solution to market. 

Wirepas, founded in 2010 as a spinoff from Tampere University and led by CEO Teppo Hemiä, was part of a research program to connect an unlimited amount of environmental sensors wirelessly. Since 2014, the company has provided a hardware-independent radio communications protocol based on a de-centralized network topology, using a software licensing model. The company employs approximately 50 people in 9 countries and its solution, Wirepas Massive, a large-scale mesh connectivity software for massive IoT, is in use by over two hundred clients including Fujitsu, Prologis, Wurth, Schaeffler, Orange and Fagerhult.

Wirepas previously raised $16.2M from ETF Partners, Inventure, KPN Ventures, TESI (Finnish Industry Investment) and Vito Ventures in 2019.