SPARX Group Leads Investment in Singapore's IoT Service Provider UnaBiz

Singapore-based IoT service provider UnaBiz has secured $25 million in its Series B round, which was oversubscribed. The round was led by SPARX Group, and saw participation from CDIB, G K Goh and Thaioil.

"Our vision is to accelerate corporate digital transformation with optimised end-to-end solutions which include hardware, software and connectivity. We look forward to growing our team in each area and working with vertical experts to champion a unified Low-Power Wide-Area Network (LPWAN) world," said Henri Bong, Co-Founder and CEO of UnaBiz. "The IoT industry has become too fragmented and it is our mission to simplify it and eradicate frictions to truly enable massive IoT, from 0G to 5G."

UnaBiz will utilize the fresh funds to develop specific expertise and services that will help its customers reach their energy goals. Pattern-detection based on Artificial Intelligence is the company's key new offering.

"UnaBiz has made tremendous progress in the past year. We are impressed by its rapid and sustained growth, especially how it delivered one of the largest and fastest smart gas metering projects in the region, despite the COVID-19 pandemic. We look forward to partnering with this talented and dynamic team to meet the growing needs of a burgeoning IoT landscape," said Shuhei Abe, President and CEO of SPARX Group.

The IoT service provider has previously raised $10 million in its Series A funding round. The company has been working to establish itself as a recognized, tech-agnostic and delivery-focused IoT service provider.