UnaBiz raises US$25 million in Series B funding led by SPARX Group
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UnaBiz raises US$25 million in Series B funding led by SPARX Group

Other investors for the round include CDIB, G K Goh, and Thaioil

UnaBiz, Singapore-based massive Internet of Things (IoT) service provider, has raised over US$25 million in its Series B funding round led by SPARX Group. The round was oversubscribed, with participation from CDIB, G K Goh and Thaioil.

The fresh funds will be used to strengthen the scaleup’s foothold in strategic regions such as  Japan, South-East Asia and EMEA via local offices and M&A operations, and to sustain the  growth trajectory of UnaConnect, the company’s latest data platform offering that aims to bridge  the glaring gap between fragmented IoT data collection technologies and enterprise systems.  

“Our vision is to accelerate corporate digital transformation with optimised end-to-end solutions  which include hardware, software and connectivity. We look forward to growing our team in  each area and working with vertical experts to champion a unified Low-Power Wide-Area  Network (LPWAN) world,” said Henri Bong, Co-Founder and CEO of UnaBiz. “The IoT industry  has become too fragmented and it is our mission to simplify it and eradicate frictions to truly  enable massive IoT, from 0G to 5G.”  

In 2018, UnaBiz raised over USD10 million in its Series A funding round to establish itself as a  recognised, tech-agnostic and delivery-focused IoT service provider. Leveraging Taiwan’s  world-class solutions design, industrialisation and supply chain ecosystem, and Singapore’s  innovation platform, the company made remarkable strides in 3 major industries; water and gas  metering, asset tracking, and facilities management. Consequently, UnaBiz has been servicing  Japan's largest remote gas meter reading infrastructure, the largest autonomous tracked beer  kegs fleet in Australia and New Zealand, and one of the most ambitious integrated facility  management projects for an educational institution in Singapore.  

“UnaBiz is focused on creating value for the ecosystem,” said Philippe Chiu, Co-Founder and  CTO of UnaBiz. “We see a transition in the demands of the IoT market from competitive drivers  to carbon reduction commitments. On top of adopting sustainability reporting, responsible  consumption and production practices, the new funds will be channelled to develop specific  expertise and services that will help our customers reach their energy goals. On top of energy optimised sensors, pattern detection based on Artificial Intelligence is key in our new data focused offerings,” he added. 

SPARX Group, an independent investment company, based in Tokyo, Japan, that manages  over US$15 billion worth of assets, led the round through the Mirai Creation Fund II, a  US$700M fund backed by the likes of Toyota Motor Corporation and Sumitomo Mitsui Banking  Corporation. SPARX Mirai Creation Funds aim to accelerate the pace of innovation by financing  companies’ and projects’ development in technologies that will drive future growth. SPARX  Group is listed on Tokyo Stock Exchange.

Shuhei Abe, President and CEO of SPARX Group said, “UnaBiz has made tremendous  progress in the past year. We are impressed by its rapid and sustained growth, especially how it  delivered one of the largest and fastest smart gas metering projects in the region, despite the  COVID-19 pandemic. We look forward to partnering with this talented and dynamic team to  meet the growing needs of a burgeoning IoT landscape.” 

Global Brain, who led the previous round through KDDI Open Innovation Fund, and ENGIE  Ventures, the investment arm of global energy and services leader, ENGIE, have reaffirmed  their confidence in UnaBiz’s vision in its Series B round. 

“UnaBiz has worked closely with KDDI subsidiary SORACOM Inc since its Series A funding.  The duo’s collaboration has spurred in the smart metering space. With the new Japan office, we  are certain that the team can expand its data services to new verticals and scale these new  solutions to the global market," Tatsuya Matsumoto, Director, Global Brain, the General Partner  of KDDI Open Innovation Fund III.  

“ENGIE has been working closely with UnaBiz to support the digitisation of its services.  UnaBiz’s commitment to developing sustainable products and services for its partners is  completely aligned with ENGIE’s ambition in accelerating the move towards carbon neutrality.  We are excited to journey on to deploy at scale energy-efficient solutions in the region,” Thomas  Baudlot, CEO Energy Solutions APAC and Country Manager ENGIE South East Asia. 

TOP Ventures, the investment arm of Thai Oil Public Company Limited (TOP), Thailand's  largest oil & gas company under the PTT Group, followed the round to bring existing massive IoT solutions developed by UnaBiz to the Thai market.  

“We want to invest in emerging technologies and business models that are promising and would  enhance and extend our existing energy business. UnaBiz fits into all 3 key areas of our focus;  Industrial Technology, Sustainability Technology, New Mobility and Energy Technology. We  look forward to working with the team to co-create custom solutions for the industry at large,”  said Luck Saraya, Managing Director of TOP Ventures.  

The latest fundraising comes three months after UnaBiz announced its new Japan office  through Invest Tokyo, a programme initiated by the Tokyo Metropolitan Government and  supported by Japan External Trade Organisation. Subsequently, the company made Forbes  Asia 100 to Watch and was accredited by the Infocomm Media Development Authority of  Singapore (IMDA), under Accreditation@SG Digital, an elite programme that helps Singapore based technology companies accelerate their growth and compete globally.  

UnaBiz was recently selected for an accelerator programme in Japan under the Global  Innovation Alliance, an initiative of Enterprise Singapore and Singapore Economic Development  Board, run by Leave a Nest Singapore. 

The funding brings UnaBiz’ total capital raised to US$35 million since it launched in July 2016,  and has more than tripled the firm’s valuation since the last round. 

For more information, visit unabiz.com 

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