CommSolid Secures Funding for its NarrowBand-IoT Product Development
July 19, 2016
HTGF and MBG Invest in Future Cellular IoT Technologies
CommSolid, the cellular IoT IP company, has completed its first funding round to provide leading edge ultra-low power solutions for the growing cellular IoT market. This market, often referred to as Low Power Wide Area Network (LPWAN) market, demands highly optimized and easy to integrate communication solutions for the newly defined NarrowBand-IoT standard, allowing every sensor and actuator to be directly connected to the Internet. Once integrated into customer integrated circuits (ICs), a wide range of applications for IoT end devices will become reality.
“Have you ever wondered, why we are able to fly to Mars but still have to worry if there is oncoming traffic on a winding, hilly road, or where we put our wallet or why we need to wait ages for a doctor’s appointment to get initial answers on medical conditions? A smart infrastructure provides the solution based on an efficient and flexible cellular IoT technology. A technology that allows a massive number of devices, everywhere – also in rural areas, basements or tunnels – to communicate with extended coverage and with lowest power not requiring high data rates”, states Dr. Matthias Weiss, Managing Director and co-founder at CommSolid. The NB-IoT technology, also known as Cat NB1, has been specifically defined by 3GPP for smart communication between devices. It provides the basis for complete new communication solutions in areas like health care, smart home, transport, logistic systems, or industrial applications.
Connecting all kinds of IoT devices to the Internet requires a communication technology that uses a worldwide available network infrastructure, that is robust and powerful in all environments, and that provides the highest security level – paired with low power consumption. “The NB-IoT standard just published by 3GPP demonstrates the industry’s confidence and trust in this technology”, comments Lars Melzer, Managing Director and co-founder at CommSolid. “NB-IoT depicts the intersection of 4G and 2G evolution and paves the way to enable this new market for cellular IoT solutions.”
CommSolid has a team of 30 experts knowing wireless and mobile business inside out. “With more than a decade of experience in developing outstanding cellular system on chip solutions, CommSolid has one of the few teams in the world suited to master the communication challenges of the IoT market”, comments Lucille Bonnet, Investment Manager at HTGF. “Without NB-IoT the promises of the Internet of Things may not be realized because these applications simply lack a suitable communication technology and infrastructure.”
“Our aim is to support industrial and technological projects in Saxony”, comments Markus H. Michalow, Managing Director at MBG. “The advanced experience of the CommSolid team combined with the – in already two successful startups – proven ability to meet technological challenges and to attract major semiconductor companies has increased our trust into their capabilities and our confidence into the potential of IoT solutions.”
CommSolid is the cellular IoT IP company serving the established global cellular and emerging IoT markets with solid communication solutions. Leveraging the experience of more than a decade at the forefront of the wireless communication business, the CommSolid team has unique capabilities to design high volume and extremely integrated solutions with optimized performance, size and power consumption. CommSolid was founded in 2015 and is located in Dresden (Germany), in the heart of Silicon Saxony. For more information, see: www.commsolid.com
Press Contact: Antje Davids-Weis, +49 351 219 488, firstname.lastname@example.org
Mittelständische Beteiligungsgesellschaft Sachsen mbH (MBG) acquires participations in small and medium-sized enterprises in the state of Saxony to strengthen the equity base of these companies. Offering various silent or open partnership programs promising ideas and projects can be implemented and further pursued. Moreover the aim of MBG is to support entrepreneurs on federal state level on their ambitious way into self-employment and to accompany the founders in a specific and individualistic way. For more information, see: www.mbg-sachsen.de
Press Contact: Anne Körbl, +49 (0) 351 4409 101, email@example.com
High-Tech Gründerfonds invests in young, high potential high-tech start-ups. The seed financing provided is designed to enable start-ups to take an idea through prototyping and to market launch. Typically, High-Tech Gründerfonds invests EUR 600,000 in the seed stage, with the potential for up to a total of EUR 2 million per portfolio company in follow-on financing. Investors in this public/private partnership include the Federal Ministry of Economics and Energy, the KfW Banking Group, as well as strategic corporate investors including ALTANA, BASF, Bayer, B. Braun, Robert Bosch, CEWE, Daimler, Deutsche Post DHL, Deutsche Telekom, Evonik, Lanxess, media + more venture Beteiligungs GmbH & Co. KG, METRO, Qiagen, RWE Innogy, SAP, Tengelmann and Carl Zeiss. High-Tech Gründerfonds has about EUR 576 million under management in two funds (EUR 272 million HTGF I, EUR 304 million HTGF II).
Contact: Lucille Bonnet, +49 (0) 228 82300-100, firstname.lastname@example.org