en.Wedoany.com Reported - Finnish IoT company Wirepas has secured a $27 million loan from the European Investment Bank (EIB) to develop ultra-reliable wireless mesh network software. The funding will support the company's research and development efforts in Finland and France, driving its expansion in Europe.
Founded in 2010, Wirepas began as a research project at the University of Tampere, aiming to create a network capable of supporting hundreds of thousands of connected devices. Its flagship mesh network solution connects devices into a single network, which the company claims can accommodate up to 4 billion devices. This decentralized design has no single point of failure; if one device goes down, the platform automatically reroutes data through other devices.
The company's radio frequency (RF) mesh network technology supports multiple frequency bands to adapt to different ranges and densities, and is touted as ultra-reliable for various industrial needs. It utilizes NR+ (DECT-2020 NR)—an open 5G standard for connecting a large number of devices—further strengthening its positioning. Wirepas believes this technology is suitable for supporting critical infrastructure sectors such as power grids, factories, and smart cities.
"Europe needs to expand technologies that can reliably and cost-effectively connect millions of devices," said Yu Zhang, Head of the Deep Tech, Digital, and Life Sciences division at the European Investment Bank (EIB). "Companies like Wirepas will build the next-generation digital systems for industry, energy, and cities. This fully aligns with Europe's goals of strengthening digital sovereignty and accelerating the deployment of secure, energy-efficient technologies."
According to Wirepas, its solutions are already running on over 20 million devices globally, with customers including French smart city solutions company BH Technologies, Turkish bus and military vehicle manufacturer Otokar, and smart building IoT provider Inferrix. Wirepas CEO Teppo Hemiä added, "With the support of the European Investment Bank, we can accelerate the development and deployment of Wirepas technology in Europe and beyond, enabling industries and cities to securely and efficiently connect millions of devices. This financing enhances our ability to innovate in Europe while supporting Europe's ambitions for digital sovereignty and sustainable industrial transformation."
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