Japanese IoT startup to expand to Singapore with new investment

Photo credit: Soracom has raised US$5.7 million from Pavilion Capital, it announced today. Pavilion is a private equity fund under Singapore-based investment firm Temasek Holdings. Its purview is investments in North Asia.

Soracom provides network and telecommunications infrastructure for IoT. Its products include Air SIM, a SIM card that enables IoT devices to communicate with a web console or API using mobile data. The company uses Japanese telco NTT Docomo’s network for its purposes.

With this funding, Soracom will establish a Singapore-based subsidiary, as it gears up for global expansion. The company’s expansion drive kicked off last month, when it raised US$22 million from World Innovation Lab, Infinity Venture Partners, and other investors.

Soracom says that over 2,000 clients have signed up for its services since its launch in September 2015. To date, it has raised around US$35 million in funding.

Converted from Japanese Yen. US$1 = JPY 104.2