Israel’s floLIVE Raises $15.5 Million for 5G Service
floLive is an Israeli Internet of Things (IoT) 5G connectivity startup. The company just announced the completion of a $15.5 million Series B financing round led by Intel Capital, with participation from existing investors Qualcomm Ventures LLC, Dell Technologies Capital, 83North, Saban Ventures and Arie Capital. floLive has now brought in a total of $37 million in funding. The company says that it will use the new funding to roll-out its new global 5G network.
Founded in 2015, floLIVE offers advanced 5G network solutions, both privately and over the cloud, and a full suite of global cellular connectivity services for IoT use cases. The company boasts that they are changing the game for Mobile Operators, IoT Service Providers and enterprises, by “challenging traditional networks and IoT solutions, and getting IoT up and running faster, more flexibly, and with more control.”
floLIVE operates floNET – a one-of-a-kind Global Connectivity Service designed and built especially for IoT. “The company boasts that with floNET, enterprises can enjoy seamless global connectivity for their connected devices – fully compliant, will high performance, no matter where they operate!
“We encompass a wide range of services to market verticals, from a full GSM IoT-oriented core network, through to IoT BSS, device and eSIM management and targeted IoT vertical solutions – all provided as-a-service via our global cloud.”
We are happy to announce that we’ve raised $15.5 million! 🥳
Thank you to our incredible team, valued customers and partners, and to our fantastic investors: @intelcapital @QualcommVenture @DellTechCapital @83NorthVC, Saban Ventures and @ArieCapital! https://t.co/lyPrB8xqwf pic.twitter.com/qbcSdaS8SK
— floLIVE (@floLIVE7) June 30, 2021
Nir Shalom, floLIVE’s CEO, sated,“We see significant traction in the market for 5G network solutions, with private 5G networks being the indisputable leading solution for both private campuses and national deployments. While healthcare and Industry 4.0 may be considered the natural customers, one of the emerging sectors is utilities, which is more prone to cyber-attacks, data leakage and foreign espionage; we intend to put more focus on this segment and gain significant market share.”
“We are truly excited about floLIVE’s unique cloud-native approach to IoT connectivity,” said David Johnson, Managing Director at Intel Capital. “Cloud-native architectures bring efficiency, scalability and flexibility which are important for IoT services. In addition, floLIVE’s cloud-based core can provide consistency of features across many independent private and public networks.”