Round includes participation from technology partners Kerlink and Semtech as Microshare becomes category leader helping clients navigate pandemic reopening challenges with its wearable Universal Contact Tracing solution, Occupancy Monitoring and Predictive Cleaning and other 'Clean=Safe' capabilities
PHILADELPHIA, July 09, 2020 (GLOBE NEWSWIRE) -- Defying the worst environment for raising capital in modern times, Microshare Inc. announced Thursday the successful closing of $5mn in funding with participation from two key technology partners, the French Internet of Things (IoT) leader Kerlink (ALKLK:FP) and California-based semiconductor firm Semtech Corporation (Nasdaq: SMTC).
Separately, the company announced completion of an inventory leasing arrangement with Cal-Chip Connected Devices, a strategic distributor of LoRaWAN and other IoT products, which provides Microshare with a unique hardware business model to support its current accelerated growth.
All of Microshare's solutions integrate Kerlink Wanesy Management Center, Kerlink Wanesy Wave anchors and Wirnet iFemtoCell indoor gateways and run on the fast-growing LoRaWAN low-power, wide-area networking protocol developed by Semtech.
The funding positions Philadelphia-based Microshare) to meet burgeoning global demand for its IoT data offerings for commercial real estate, manufacturing and other industries grappling with the challenges of operating safely amid a persistent global pandemic. Its Universal Contact Tracing solution has become a global category leader since the onset of the COVID-19 outbreak, joining other staples of its Clean=Safe smart facilities offerings, including Occupancy and Indoor Air Quality Monitoring and Predictive cleaning.
"Closing this round during the global pandemic and amid the worst downturn since the Great Depression gives us great confidence in our focus on employing data to reveals what is really going on inside a building," said Microshare CEO and Co-Founder Ron Rock. "COVID-19 is making unprecedented demands on anyone who operates physical assets and the market understands there will be no sudden return to the old ways of occupying space."
Since its founding in 2013, Microshare has raised just over $20 million, the majority of it from individual investors, plus a previous investment from Kerlink and a multimillion-dollar stake purchased in 2018 by Motley Fool Ventures.
"Our collaboration demonstrated so far the synergy of our expertise and our ability to jointly deliver turnkey solutions, targeted on vertical markets demonstrating a rapid ROI, a critical criterion in the success of IoT projects," said Yannick Delibie, Kerlink co-founder and CTIO.
Microshare's Universal Contact Tracing solution launched in Q2 2020 and quickly became an industry standard. Unlike troublesome and invasive smartphone app approaches, Microshare's solution relies on proven Bluetooth powered wearable wristbands and badges and does not collect Personally Identifiable Information
About Microshare: Microshare provides "Sensing-as-a-Service" and Digital Twin capabilities our clients in commercial real estate, manufacturing and other sectors using carefully curated IoT data to reveal previously hidden insights on the safety, efficiency and sustainability of their facilities. Microshare is a proud member of the LoRa Alliance.
About Kerlink: Kerlink Group is a leading global provider of connectivity solutions for designing, launching, and operating public & private Internet of Things networks. Its comprehensive product portfolio includes industrial-grade network equipment, best-of-breed network core, operations and management software, value-added applications and expert professional services, backed by strong R&D capabilities.
Microshare Media Contact: Michael Moranmmoran@microshare.io
Kerlink Media Contact: Sarah-Lyle DAMPOUX sldampoux@mahoneylyle.com
Cal-Chip Media Contact: TJ Rancour tom@calchip.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/14aafff8-dd4f-4c4a-b123-793dde35b416
