Helios Wire secures $4 million in funding for satellite-enabled IoT service

Canadian IoT startup Helios Wire has raised an additional $4 million that will help the company to launch first of its two satellite-based IoT systems in December 2017.

According to CEO and co-founder Scott Larson, two other satellites are scheduled to be launched during the second half of 2018.

Companies of large and small scale will be at an advantage with the increased affordability of the IoT technology, data generation and predictive analysis.

Larson explains: “For instance, a small-scale farmer will be able to use Helios Wire’s economical IoT service to optimally manage a handful of fields. As well, multinational shipping corporations and exporter-importers will be able to optimise fleets and shipments.

“For small-to-medium sized businesses, the Helios system would reduce capital and operational expenses and infrastructure costs, allowing for more rapid technological adoption”

This is just the latest piece of venture capital to have taken place in the IoT space over recent months. Darktrace – a UK-based global machine learning company for cyber defence – raised $75 million (£58.2 million) in a series D funding round, making its total contract value worth $200 million. The company can easily confront the most sophisticated cyber-attacks with the help of its Enterprise Immune System technology that can detect and respond to cyber-threats that evade legacy security controls, containing incidents before damage is done.

US-based software firm Mocana has raised $11 million, making itself worth total $93.6 million. The IoT security platform employs military-grade cryptographic software installed on a chip or flash memory embedded within a device.

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