Wyld Networks, a portfolio company of IoT investors Tern, has listed on Nasdaq First North. The Cambridge (UK) based firm was founded in 2016 to provide direct terrestrial and satellite connectivity for IoT devices and sensors, and has since developed a patented location-aware technology that wirelessly meshes smartphones and other devices in congested locations (such as city centres, stadiums and conferences).
“We’re delighted to have launched on the NASDAQ First North. The investment will enable our ground-breaking technologies to undergo strategic growth to meet with the increasing demand in multiple industry verticals for affordable and available connectivity.”
Explaining the potential of his company’s IoT connectivity product, CEO Alastair Williamson pointed out that only 15% of the world’s surface is covered by wireless networks. Wyld’s technology addresses the needs of the remaining 85%, but particularly rural and remote areas, connecting IoT devices directly to LEOs using unlicensed spectrum (LoRaWAN) for a low power and low cost solution. His firm targets industries such as agricultural, maritime, oil & gas, and transport with this solution. Wyld claims the LPWAN solution means a sensor with two AA batteries wouldn’t need a battery change for 5 years, while still transmitting hourly or daily data.
The charging model for this solution is currently a term-based software licence plus prepaid data.
Wyld’s mesh networking technology fulfils a different need. It enables smartphones and IoT devices to connect without the need for a cellular (4G or 5G) or WiFi connection. When combined with Wyld’s Fusion platform, this creates a wireless, location-aware network, with data simply finding the quickest and easiest route by ‘hopping’ from phone to phone. Wyld says the technology can be used to create virtual geozones around sites, buildings and depots – with anyone approaching the zone sent a message to let them know they’re entering a restricted zone, or providing guidance on any rules that apply to the area. This geozone can be as little as one to two metres, creating personalised zones for social distancing or other scenarios.
Williamson said his company had chosen to list on Nasdaq First North rather than in London for three main reasons. The first was the powerful Nasdaq brand that had instant recognition and increased credibility in the US and elsewhere. Secondly, they wanted to be traded in Europe and thirdly Sweden itself was attractive because of its huge pool of highly qualified engineers that the company could tap into. The capital raised by the share issue will be used to build out the commercial organisation, for further R&D, and to enter the APAC and US markets.