Corporate-backed IoT technology producer Sigfox has filed for bankruptcy protection, possibly a casualty of a wider clustering of venture capital investment.

Sigfox, the France-headquartered internet-of-things (IoT) technology provider which has raised over $300m from an investor base including some 10 corporates, has filed for bankruptcy protection, TechCrunch reported yesterday.

Founded in 2010, Sigfox is the creator of an end-to-end connectivity system for IoT devices, enabling them to communicate with each other without using significant quantities of power.

The company said in a statement to TechCrunch the decision had been spurred by slow product sales fuelled by the covid-19 lockdowns and exacerbated…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.