Helios Wire has raised an additional USDUSD 4 million in financing to help facilitate the launch of its first two satellites, the company said.
These funds will be allocated towards the development of the satellite-based IoT system that Helios is building.
The Boston Consulting Group has predicted that USD 267B will be spent on IoT technologies, products, and services by 2020. Already, IoT is improving operations, but small and medium-sized companies have yet to fully capitalize. “Today, Industrial IoT is frequently considered to be costly, inaccessible, and best suited for larger, international organizations; but that won´t always be the case,” says Larson.
With increased affordability of IoT, data generation and predictive analytics — powered by artificial intelligence technologies similar to those provided by Helios — companies large and small can benefit from what´s already becoming an industrial revolution.
In June 2015, the McKinsey Global Institute reported that the potential economic impact of IoT would grow from USD 3.9 trillion to USD 11.1 trillion by 2025. By 2020, it´s anticipated that there will be as many as 30.7 billion trackers worldwide, though many of those trackers (via communications satellites) and bandwidth costs are prohibitively expensive.
Applications requiring mid-latency data transmissions will remain the focus as the first two Helios satellites reach operation. As subsequent satellites are launched, the system will offer increasingly lower latency data for near real-time monitoring.