April 28, 2021
The leading Low Power Wide Area Network (LPWAN) solutions provider Ubiik today announces that it has completed its US$5M Series A funding led by Taiwania Capital. The investment will fuel the global expansion of its industry-leading AMI (Advanced Metering Infrastructure) technology and energy IoT solutions, as well as growing its promising cellular IoT business.
Based in Taipei and with offices in Silicon Valley and Osaka, Japan, Ubiik is the largest AMI vertical solutions provider for Taiwan’s smart electricity meter deployment, the largest IoT project in Taiwan. By winning three consecutive tenders of Taiwan Power (Taipower), the “state-owned” electricity company, from 2018 to 2020 at a total value of US$45Mn, Ubiik is tasked to deploy its AMI system for 600,000 electricity meters by 2022, of which more than 200,000 are already online. Utilizing its breakthrough Weightless™ LPWAN wireless communication technologies and PaaS head-end system, Ubiik has managed to achieve more than 99% of success rate for meter data collection and set the benchmark for reliability and efficiency among all vendors. Since late 2019 Ubiik’s vertical AMI solution has also successfully landed in Japan and is now expanding to markets in the US, India, Middle East, and the ASEAN countries.
“Ubiik has demonstrated to be not just a team with great technologies and can-do spirit, but also one with excellent business development capability that could deliver business success,” said Cheng Wu, Taiwania Capital’s general partner who have founded 4 successful start-up companies, including ArrowPoint Communications, which was sold to Cisco in 2020 for US$5.7Bn. “It is a rare company having the ability to design all the components of a complex system, including hardware, wireless connectivity, embedded software and cloud platform. In Ubiik, we see a leader in AMI and the enormous market potential in IoT and Electric Vehicles. Taiwania is honored to be a partner to shape that future”.
Read More: Global leading AMI vendor Ubiik Completes US$5M Series A funding