Senet completes $18m funding round for LPWAN development
June 26, 2015
New Hampshire based IoT and M2M company Senet has completed its $18m series A round. Fisk Ventures joins earlier investors Milestone Venture Partners, City Light Capital and Harbor Light Capital Partners as a major participant in Senet’s most recent fundraising offer.
Senet will use the funds to continue the build-out of hardware and software necessary to support the Senet network as a service (NaaS), low-power wide area network (LPWAN). The NaaS offering is a resource for IoT providers requiring access to an established and proven network.
“We are thrilled to have Fisk Ventures lead the latest fundraising round as a new investor,” said Richard Dumler, partner at Milestone Venture Partners and Senet board member. “They obviously see the value of our approach and our vision for our continued growth in the exploding IoT M2M market. With their significant expertise and experience Fisk Ventures will be a great addition to our board of directors.”
Senet claims to be the first public NaaS provider in the USA for a low cost, long range ISM network. Through its established countrywide network, Senet enables monitoring services that help businesses improve profits by managing and measuring the status of widely distributed assets. These include for applications such as residential fuel oil and propane tank automation, water and gas metering, commercial lubrications distribution, and solar irradiance.