The LIBRARY basement part 12

Sigfox has reportedly filed for an initial 6 months bankruptcy protection!!! Looks like managed to burn through their $300M+ investment…

Sad to see a fellow tech & IOT traveller fail… but cant help but smile a little as it (potentially) removes some competition from the low traffic end of the LoRaWAN & TTN use cases… lets hope any disappointment or concerns raised dont rub off as concerns for the wider LPWAN/IOT ecosystem in general…

… now …how can we recruit/convert some of the Sigfox GW sites?! :thinking: :slight_smile:

Signs of stress had been there for nearly 2 years with their UK operation effectively stopping site rental payments back in 2020 as Covid started to bite and with the companies Auditors raising a big note of caution for their future as a going concern back in September, warning they would go insolvent without a fresh cash injection!

Same Story on Yahoo Finance:

In their last accounts filing the company posted a net loss of nearly €91 million on revenues of just over €24 million, and financial debts of €118 million.