Nestwave secures funding, drives GNSS for IoT

April 03, 2019 //By Jean-Pierre Joosting
Nestwave secures funding, drives GNSS for IoT
Nestwave has closed a 2.0 million euro first round of financing by The Faktory (Liege, Belgium) and Sofimac Innovation (Paris, France).

Founded in 2014, Nestwave has developed DSP software that allows modem providers in the IoT market (LTE cat M1, NB-IoT, LoRa or Sigfox) to offer a cost-effective, accurate geolocation solution integrated within their platform. Based on 10 patents issued and pending, the Nestwave Global Navigation Satellite System (GNSS) solution improves accuracy in urban canyon environments, increases indoor coverage, and reduces power consumption as compared to existing solutions.

"This fundraising will enable us to carry out our product innovation strategy, structure ourselves to accelerate our development and intensify our commercial deployment," says Rabih Chrabieh, founder and CEO of Nestwave. 

"Led by a team of successful entrepreneurs and specialists of the geo-location market, Nestwave is ideally positioned to provide a cost-effective, geolocation solution for emerging IoT markets such as asset tracking or in smart cities," added Nicolas Boulay, Senior Partner of Sofimac Innovation.


See also: Nestwave demonstrates low power GPS for IoT

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See also: Renesas brings recent IDT acquisition into single IoT division

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