floLIVE, which develops cloud-native global Connectivity Management Solutions for the Internet of Things (IoT), announced that it has closed a $15.5 million investment as part of its Series B financing round. The investment was led by new investor Intel Capital, with participation from existing investors Qualcomm Ventures LLC, Dell Technologies Capital, 83North, Saban Ventures and Arie Capital.
The Israeli-founded floLIVE, which is headquartered in London and has an R&D center in Israel, offers advanced 5G network solutions and a full suite of global IoT cellular connectivity services. floLIVE said its solutions are witnessing strong market traction from their target markets. The company intends to invest the new funds in three main alleys - strengthening its technology stack, upgrading its global network to 5G and building a global SIM2Cloud offering by partnering with a global leading cloud provider.
5G cellular networks comprise two major building blocks – the Radio Access Network (RAN) and the Core Network (CN). floLIVE’s 5G Core Network can be deployed using Private RAN when in closed campuses and connect to the public RANs deployed by national carriers for national deployments required by national utility companies.
floLIVE’s Private 5G network, one of the company’s IoT connectivity solutions for enterprises and mobile operators, is built atop its common Software-defined Connectivity (SDC) infrastructure – a cloud-native framework.
“We see significant traction in the market for 5G network solutions, with private 5G networks being the indisputable leading solution for both private campuses and national deployments,” said Nir Shalom, floLIVE’s CEO. “While healthcare and Industry 4.0 may be considered the natural customers, one of the emerging sectors is utilities, which is more prone to cyber-attacks, data leakage and foreign espionage; we intend to put more focus on this segment and gain significant market share.”
“We are truly excited about floLIVE’s unique cloud-native approach to IoT connectivity,” said David Johnson, Managing Director at Intel Capital. “Cloud-native architectures bring efficiency, scalability and flexibility which are important for IoT services. In addition, floLIVE’s cloud-based core can provide consistency of features across many independent private and public networks.”