Thinxtra raises $5m in pre-IPO funding to expand footprint and Massive IoT capabilities
Expanding partner program and deploying new solutions all part of Australian firms pre-listing investment priorities.
Thinxtra has raised $5 million from new and on-going investors as part of its pre-IPO funding round.
The Australian Massive Internet of Things (IoT) company owns and operates the only public 0G Network dedicated to IoT in its home country, Hong Kong, New Zealand and Macau. As an enabler of Massive IoT, Thinxtra aims to connect physical assets with the digital world in the most energy and cost efficient way.
The fresh capital, which includes capital from Blue Ocean Equities, will be used to drive the implementation of its inaugural partner program alongside investment in its sales and marketing function.
The Partner program was launched in February this year and offers partners from IT and non-technology companies joint strategic business planning, training and enablement workshops to identify and convert IoT opportunities, demand generation and account mapping, sales tools and ongoing pre- and post-sales support.
Companies they are looking to partner with include Value-added resellers (VARs), systems integrators (SIs) and managed services providers (MSPs) as well as players in the asset management, supply chain and logistics, property and facilities management, utilities and smart cities industries.
CEO Nicholas Lambrou said the investment will help the company “accelerate Industry 4.0 applications, including energy efficiency projects, indoor air quality (IAQ) and CO2 monitoring, asset tracking, and smart building initiatives”
Thinkxtra hope to “capitalise on the growing Massive IoT sector, which offers a breadth of use cases for digitally connected devices, sustainably and at scale, and this is spreading rapidly across value chains,” Lambrou continued.
Thinkxtra plans to IPO later in the year.