Chinese LPWA IoT pioneer closes $10M Series A funding

April 26, 2021 // By Jean-Pierre Joosting
Chinese LPWA IoT pioneer closes $10M Series A funding
Despite global manufacturing and supply chain disruption, the renowned producer of IoT chips, hardware and software tools has seen tremendous growth.

RAKwireless Technology Co., Ltd., a pioneer in end-to-end LPWA, has successfully closed a 10-million-dollar (USD) Series A Funding Round. The deal was led by Hong Kong NWS Holding Limited, followed by Shunwei, a leading venture capital firm from China, whose portfolio includes billions of investments in tech companies in East and Southeast Asia. This investment will be used to advance the production of high-performing infrastructure and edge devices, and further market the company's initiatives to make IoT simple.

At RAK, our core motivation is to diversify the IoT world by making easy-to-configure devices. With this round of funding, RAK will build a one-stop service factory including assembly, enabling us to assist customers throughout all the production stages, from prototyping to commercial launch. Our goal is to help developers transition smoothly from prototype to commercial product.

Since 2014, RAKhas been delivering simple but powerful tools that eliminate barriers in IoT connectivity and empower people to build a smart future. The continuous development of these IoT products empower innovators and commercial enterprises to build the right environment for their property. The brand has held partnerships with some of the world's leading tech players such as: Apple, Amazon, Alibaba, Tencent, and Microsoft. These partnerships have fueled thousands of small and medium enterprises with best-in-breed IoT technology.

"At RAK, our core motivation is to make things easier to build in the IoT world. We want to help developers to transition smoothly from prototype to commercial product. We understand what developers require to build a ready-to-use product. it’s not just the tools that they need, they also need more value-added services like customized enclosure, assembly, labeling, provisioning, etc." says RAK CEO, Ken Yu. "With this round of funding, we aim to build a truly one-stop service factory, enabling us not only to create and produce better products, but also to provide custom design, assembly service and more to our customers.”

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