Smart Street Lights Expanding into Europe, Asia
A smart city infrastructure operator is getting ready to expand into Europe and Asia after signing a $25 million debt and working capital instrument with Silicon Valley Bank.
The operator, Ubicquia, makes connected streetlight controllers that are marketed to municipalities, electricity grid networks and mobile operators.
Foundations for International Growth
The company has more than 100 cities using its streetlight controller technology.
The product range include a router that slots into the lamp post, for connectivity, real-time air quality insights and light dimming protocols, along with a small cell module for densifying 4G and 5G coverage, and data analytics for electric grid maintenance.
Tilt sensors can also be connected through the company’s IoT network to enable remote monitoring of utility poles based on the angle measurements.
The software can automatically switch between private or public-owned LTE networks, helping the client search for the best connectivity deal.
In Las Vegas, Nevada, Ubicquia’s broadband smart city layer is installed on the 150 MHz wide transmission band Citizens Broadband Radio Service, which was fully deregulated for commercial use in January 2020.
Funding Plans
Ubicquia, headquarters in Fort Lauderdale, Florida, started seven years ago and runs an artificial intelligence (AI) center in Montreal, Canada.
The debt agreement is expected to drive the company’s growth plans by enabling it to make larger commitments to its suppliers, managing working capital requirements and providing greater operational flexibility.
“We are pleased to work with Ubicquia as it develops and delivers products to strengthen grids and expand wireless access globally,” said Dale Kirkland, managing director at Silicon Valley Bank.
