Blues Wireless plans to use the funding to increase R&D investment. Here are the top-line bullets you need to know.
Blues Wireless, an embedded cellular solutions provider, has raised $22.1M in a Series B funding round. The round drew participation from Sequoia Capital, XYZ Ventures, Bill Gates, and Lachy Groom.
HOW’S THE COMPANY PERFORMING?
- Boston-based Blues Wireless provides hardware to connect edge devices to the cloud. The company’s product, Notecard, allows users to add LTE and 5G connectivity across devices.
- The company connects securely to cloud applications like AWS, Azure, Influxdb, and Google Cloud.
- The company’s flagship product has applications across agriculture, retail, healthcare, manufacturing, and fleet management, among other industries.
Source: Blues Wireless
WHY DOES THE MARKET MATTER?
- The global wireless connectivity market is projected to grow at a CAGR of 10.6% to reach a value of $50.2B by 2026, according to Industry Research Report.
- Increasing proliferation of smart sensors and IoT-enabled devices, businesses shifting to the cloud, and a surge in the usage of smart devices is driving the wireless market.