Monday, November 30, 2020

Totum Labs Beams In $13M

San Diego-based Totum Labs, a startup developing low power, satellite-based Internet-of-Things hardware, has raised $13M in its Series A funding round, the company said today. The funding was co-led by Heroic Ventures and Space Capital, and also included Qualcomm co-foudner Dr. Andrew Viterbi and strategic investor Wamcom. The company says it has now raised $15.5M in total. Totum Labs is developing chip level technology aimed at low-cost, global, indoor tracking and monitoring of assets using satellite technology; the company said its products will allow low power, wide area networks which use satellites--rather than cellular connections--for asset tracking.