Wyld Networks receives SEK 6.3 million payment from UK Government for Satellite IoT development
Wyld Networks has received a cash payment of approximately SEK 6.3 million from UK Government for R&D activities. This is in addition to the SEK 4.3 million received in April this year.
The UK government recognizes the importance of development in satellite IoT solutions to bridge the information gap currently challenging many businesses globally. Wyld's disruptively low-cost and low-power global connectivity allows companies to increase profitability, reduce costs and meet sustainability goals.
From sensor manufacturers to systems integrators and solution providers, our partners are delivering solutions for the real-world using Wyld Connect and the Wyld Fusion platform to shape the future of IoT.
"This award demonstrates the UK governments commitment for rewarding innovative companies," said CFO of Wyld Networks, Christopher J. Caswell FCA. "The market for satellite IoT solutions focusing on solving the lack of remote connectivity is growing significantly and we are eminently positioned to fulfil that demand."
For further information, please contact:
Alastair Williamson, CEO Wyld Networks
E-mail: [email protected]
Tel: +44 7 824 997689
About Wyld Networks AB
Wyld Networks develop and sell innovative wireless technology solutions that enable affordable connectivity anywhere in the World, addressing the problems for businesses and people regarding the lack of global mobile network coverage. The solutions target wireless connectivity for the Internet of Things (IoT).
Wyld Networks Ltd was formed in Cambridge, UK in 2016 and is a wholly owned subsidiary of Wyld Networks AB.
The Wyld Networks share (WYLD) is traded on the Nasdaq First North Growth Market. Certified Adviser is Mangold Fondkommission AB (tel +46 8-5030 1550, email [email protected]).
Read more on www.wyldnetworks.com