Helios Wire, a connected technology company based in Vancouver, has raised $4 million in financing to continue developing its satellite-enabled IoT service.
The company is set to use this funding to continue the development of its new IoT system and to launch two satellites as part of its plans to “democratize the IoT from space.”
Focusing on the masses
Helios Wire says it is looking to bring satellite-enabled machine-to-machine and IoT connectivity to the masses and is doing this by using a priority mobile satellite system.
Although the technology is still in the early stages, it will supposedly enable ultra-low-cost, short-burst data services that cover a plethora of connected assets.
Called the Helios System, it’s suitable for both existing and emerging IoT and M2M applications, including those in industries such as transportation, logistics, security/public safety, energy, industrial/construction, agriculture, and animal management.
Blending different tech
To make this all possible, the company is “blending terrestrial based networks with our constellation of low earth orbiting satellites in order to use the combined dataset for analytics, for information and for actionable insight-as-a-service.”
Helios plans Christmas launch
Scott Larson, CEO and co-founder of Helios Wire, confirmed that his company is planning to launch its first satellite later this year, thanks to the recent funding increase. “We’re extremely pleased with the level of investor interest in Helios Wire’s mission,” he said.
“The funds from this round of financing will be put towards the launch of our first satellite this Christmas, as well as the two other satellites scheduled to be launched during the second half of 2018.”
“We’re in the midst of a seismic shift in the way industries operate. Our goal is to make certain that companies and organisations, regardless of size, are able to participate in the enabling technologies of IoT, particularly in the industrial sectors.”
Larson added that many companies find IoT technology expensive and that he wants to change this. “Today, Industrial IoT is frequently considered to be costly, inaccessible, and best-suited for larger, international organisations; but that won’t always be the case.”
“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 optimize 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.”