Qualcomm Ventures LLC, Saban Ventures, Dell Technologies Capital, 83North, and Arie Capital joined existing investors Qualcomm Ventures LLC, 83North, Dell Technologies Capital, Saban Ventures, and Arie Capital in the investment.
FREMONT, CA: floLIVE, a provider of secure, cloud-native global Connectivity Management Solutions for the Internet of Things (IoT), recently announced that its Series B financing round has concluded with a 15.5 million dollars investment. Qualcomm Ventures LLC, Saban Ventures, Dell Technologies Capital, 83North, and Arie Capital joined existing investors Qualcomm Ventures LLC, 83North, Dell Technologies Capital, Saban Ventures, and Arie Capital in the investment. Additionally, floLIVE is recognized among CIOReview magazine’s “10 Most Promising Internet of Things Solution Providers in Europe – 2021”.
“We see significant traction in the market for 5G network solutions, with private 5G networks being the indisputable leading solution for both private campuses and national deployments,” said Nir Shalom, CEO, floLIVE. “While healthcare and Industry 4.0 may be considered the natural customers, one of the emerging sectors is utilities, which is more prone to cyber-attacks, data leakage and foreign espionage; we intend to put more focus on this segment and gain significant market share.”
With the introduction of the Citizens Broadband Radio Service (CBRS) in the United States, the distribution of unlicensed cellular bands for public use became a global trend, with nations such as Germany, the United Kingdom, and others following suit. Together with the growing need for secure, high-performance connections among businesses, these measures have led to a surge in demand for private 5G networks. Customers now have a viable VPN and Wi-Fi connectivity option that is more secure and cost-effective than traditional legacy connectivity methods.
Private 5G networks are great for businesses because they provide a highly secure, performance-oriented connection adaptable to their IT, quality, and security requirements. The benefits of private 5G networks are a close fit for manufacturing, logistics, and healthcare centers as they become more connected and smarter, ensuring longevity and business continuity.
“We are truly excited about floLIVE’s unique cloud-native approach to IoT connectivity,” said David Johnson, Managing Director, Intel Capital. “Cloud-native architectures bring efficiency, scalability and flexibility which are important for IoT services. In addition, floLIVE’s cloud-based core can provide consistency of features across many independent private and public networks. We look forward to the expansion of floLIVE’s products and services enabled by this investment.”
“We are honored to be recognized by a prestigious investor like Intel Capital as an innovator in 5G platforms,” continued Shalom. “Having Intel Capital’s investment gives us confidence in the road we are paving towards our global success. Equally important is the continued trust and tremendous support of our existing investors. Together, these are invaluable to our growth.”
The Radio Access Network (RAN) and the Core Network are the two fundamental components of 5G Cellular Networks (CN). When implemented in closed campuses, floLIVE’s 5G Core Network can connect to public RANs delivered by national carriers for national deployments demanded by national utility companies. One of floLIVE’s IoT connectivity solutions for enterprises and mobile operators is the company’s Private 5G network, which is built on the company’s common Software-Defined Connectivity (SDC) infrastructure, a cloud-native framework that offers the flexibility, performance, and security needed by the IoT ecosystem.
Its cloud-native offerings have piqued the interest of both global cloud providers and large industry leaders, as recent industry studies show that mobile operators, a traditionally conservative industry, are shifting their mindset and beginning to utilize cloud-based solutions due to their quick time-to-market, elasticity, the low total cost of ownership, and cybersecurity.
The firm plans to use the funds in three primary areas-improving its technological stack, upgrading its worldwide network to 5G, and establishing a global SIM2Cloud service by working with a global premier cloud provider.