flolive Raises $15.5M to Build Private 5G Networks

The Expansion of Global IoT Connectivity: FloLive Secures New Funding

As businesses and telecommunication companies prepare for the widespread deployment and management of IoT services, and the monitoring of their connected devices on a global scale, a startup focused on simplifying and reducing the cost of this process has announced a new round of investment.

FloLive, the company that has developed a cloud-based platform for integrating private, regional cellular networks into unified, global IoT 5G networks, has successfully raised $15.5 million. These funds will be allocated to further service expansion through both strategic investments and the enhancement of its technological infrastructure.

Strategic Investment and Network Upgrades

The company intends to upgrade its network capabilities to 5G in areas where it is currently utilized, and to establish a comprehensive SIM2Cloud offering in collaboration with a prominent, yet unnamed, global cloud provider.

Intel Capital, the investment division of the semiconductor leader, spearheaded this funding round. Participation also came from Qualcomm Ventures, Dell Technologies Capital, 83North, and Saban Ventures.

The involvement of Intel, Qualcomm, and Dell is particularly noteworthy, as these companies collaborate with carriers and enterprises to deliver and oversee services and devices. This investment provides them with a potentially improved method for integrating a more adaptable, worldwide technology and network to streamline service provisioning across diverse geographic locations.

Series B Funding and Future Plans

This latest investment builds upon a $21.5 million round secured by London-based FloLive last year, bringing the total for the Series B funding to $37 million. Sources indicate that the startup is currently preparing for its Series C funding round.

With the increasing prevalence of 5G networks and the services they enable, addressing the challenges FloLive tackles is becoming increasingly critical.

The Scaling Challenge in IoT Network Management

Enterprises and carriers constructing networks for IoT and other connected devices encounter a significant scaling hurdle. Traditional IoT networks are typically built upon national or localized infrastructures, making centralized control and monitoring of devices within a global network exceptionally difficult, if not impossible.

“When examining top-tier networks, two key characteristics become apparent,” explains Nir Shalom, CEO of FloLive. “These networks are designed for limited geographic areas and primarily cater to individual consumers. Our approach differs by focusing on a global, rather than local, footprint, and our data networks are tailored for IoT applications, not solely for people.”

The Role of FloLive in a Growing Market

While some carriers may consider developing their own competing networks, they often lack the necessary scale to do so effectively. Furthermore, they may choose to collaborate with providers like FloLive to facilitate network construction.

Shalom notes that there are approximately 900 major mobile network operators worldwide, with the majority currently lacking the capacity to independently implement such solutions.

FloLive’s Innovative Approach to Connectivity

Rather than constructing entirely new infrastructure, FloLive’s strategy involves integrating existing networks from various regions and operating them as a unified network. This is achieved through its cloud-based, software-defined connectivity, which seamlessly combines 5G networks with other cellular technologies – including 4G, 3G, and even 2G – as available in specific locations.

FloLive’s technology operates within the core network, establishing a private radio access network that integrates with carrier capacity in different markets. This allows for centralized network management for customers.

Beyond VPNs: A Versatile Solution

This approach shares similarities with enterprise virtual private networks (VPNs), but is specifically designed for connected object use cases, such as those found in manufacturing, logistics, healthcare, and utilities, rather than employee laptops.

The resulting network also presents a viable alternative to VPNs for companies requiring connectivity, as well as enabling carriers to extend their network reach for specific customers. In addition to its IoT-focused core network, FloLive provides essential business support systems, device management tools, and solutions tailored to specific industries. The platform supports devices utilizing SIM, eSIM, or “softSIM” technology for network connection, a feature that likely appealed to strategic investors due to its ease of integration.

Intel Capital’s Perspective

“We are genuinely enthusiastic about floLIVE’s distinctive cloud-native approach to IoT connectivity,” stated David Johnson, MD at Intel Capital. “Cloud-native architectures deliver efficiency, scalability, and flexibility, all of which are crucial for IoT services. Moreover, floLIVE’s cloud-based core can ensure consistent features across numerous independent private and public networks. We anticipate the expansion of floLIVE’s products and services as a result of this investment.”

Updated to reflect the correct funding amount of $15.5 million.