Networking company CSignum has raised £6 million ($8m) in a Series A funding round.
The funding round was led by Archangels, Par Equity, and Scottish Enterprise, with the investment set to help the company accelerate the growth of its EM-2 product portfolio and the development of its underwater wireless networks.
In a statement, CSignum said the investment will also allow it to “expand its global presence, accelerate product development and address the growing demand for reliable, real-time data transmission for underwater and underground applications.”
The company, which is based near Edinburgh in Scotland, has developed wireless communication technology that transmits data via “patented electromagnetic field signalling (EMFS)” through environments such as water, ice, soil, rock, and concrete to networks above the surface.
CSignum has customers in the UK, EU, and US markets and says use cases for its technology include water quality and environmental monitoring, wireless under-ship monitoring, and security applications for critical underwater infrastructure such as offshore wind turbines and oil and gas platforms.
It also provides dashboard and analytics services via its CSignum Cloud.
“This investment reflects the growing recognition of the critical need for innovative communication solutions in the underwater IoT sector,” said Jonathan Reeves, CEO at CSignum. “The support from our investors will allow us to scale our operations, enhance our product offerings, and help industries worldwide manage their resources more effectively. We are grateful for their trust and excited to shape the future of underwater communication.”
Read the orginal article: https://www.datacenterdynamics.com/en/news/csignum-raises-6m-for-underwater-networking-technology/