Roambee Scores $15.2M for IoT Asset Tracking & Monitoring

Santa Clara, Calif.-based goods and asset tracking IoT startup Roambee has this week received $15.2 million in series B funding, saying the money is to be used to grow its sales and operations globally.

Since its founding in 2014, Roambee has signed on global carrier partners such as Deutsche Telekom, Etisalat, Rogers, Telenor and Vodafone. In the US, in July 2019, T-Mobile signed on Roambee for the first asset tracking service using NB-IoT in the US -- using its BeeAware tracking device -- priced at $10 a month per device.

T-Mobile's pricing raised some eyebrows at launch, but Roambee CEO Sanjay Sharma wrote in the company blog that NB-IoT devices are "roughly 1/3 the cost, battery, and size of conventional GSM/cellular tracking options available right now," envisioning the BeeAware tracker being attached to trailers and pallets to monitor the position of goods from within corporate shipping centers and on the road.

Roambee is not just NB-IoT though and "the company's sensors work on cellular, WiFi, Bluetooth, NB-IoT, CAT-M and Sigfox," a company spokesperson tells Light Reading.

The startup's customers "include the top three global companies in pharmaceuticals, global logistics, and food & beverages," the Roambee spokesperson claims, saying that the company helps its customers limit supply chain disruption and deliver goods on-time and in good condition.

Roambee has garnered $25.4 million in total funding since its founding in 2014. The latest round was led by Anchor Group and Comcraft investment group.

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— Dan Jones, Mobile Editor, Light Reading