Security News > 2021 > April > Nestwave secures €2.4M to accelerate the rollout of its GNSS and cellular positioning technologies

The new financing round will enable Nestwave to further accelerate the rollout of its hybrid-signal global navigation satellite system and cellular positioning technologies.

"We are grateful for the support from the European Innovation Council who, together with our current investors Sofimac and The Faktory Fund, believe in and continue to back our vision for making location accessible to low-power IoT devices," said Ambroise Popper, CEO of Nestwave.

Purpose-built for the IoT, the Nestwave solution reduces power consumption significantly compared to traditional GNSS offerings while eliminating the need for a dedicated positioning chipset.

Nestwave has developed a DSP software solution that enables modem providers in the IoT market to offer a cost-effective, accurate geolocation solution integrated within their platform.

"Nestwave is opening new opportunities in the IoT and cloud services market by eliminating the need for dedicated positioning chipsets, improving accuracy and reducing power dissipation," said Simon Alexandre, general manager and partner, The Faktory Fund.

"Led by a team of successful entrepreneurs and geolocation experts, Nestwave has created innovative low-power positioning technology that helps chipset and product makers develop and bring to market new and innovative solutions for IoT geolocation," said Nicolas Boulay, senior partner, Sofimac Innovation.

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