The global IoT market size crossed $300.3 billion in 2021 and is anticipated to exhibit a CAGR of 16.7% to reach over $650.5 billion by the end of 2026, according to a MarketsandMarkets report. It makes sense as to why the IoT market is growing. Improved connectivity, rising demand for smart solutions, and the support of big data analytics and cloud computing has lead to increased efficiency and convenience in various industries.
Likewise, the global 5G services market size is expected to record a CAGR of 25.3% during 2022 to 2027, according to MarketsandMarkets. With faster data speeds, lower latency and increased capacity, 5G networks enable the seamless connectivity of a multitude of devices, driving the adoption of IoT applications, smart cities, AR and other innovative technologies that rely on reliable and high-speed internet connections.
Cavli Wireless, a player in cellular IoT ecosystem, designs and manufactures cellular modules in 4G and 5G technologies with integrated eSIM and global connectivity. Cavli began its journey in 2017, when co-founders John Mathew, Ajit Thomas, Tarun Thomas George and Akhil A Zeeb created a mission that IoT should be made simple, seamless and global. Cavli evolved into a global team spread across four continents, delivering IoT solutions to product makers from 30-plus countries.
Now, Cavli is strengthening its position in the IoT market with the closure of its $10 million Series A round from global investors.
John Mathew, CEO of Cavli, explains how the funds will be used. He says that the funding will enhance R&D capabilities and grow Cavli’s international presence. Cavli also plans to invest in innovative technologies like 5G with edge processing capabilities to address the automotive and industrial sectors globally.
Cavli’s comprehensive suite of IoT connectivity solutions, backed by its connectivity management cloud platform, Cavli Hubble, provides businesses with the infrastructure needed to harness the power of IoT, driving digital transformation and creating new opportunities for growth.
“With our platform solution, Cavli Hubble tightly integrated with our hardware portfolio, we are confident that Silicon to Cloud integration in its true sense is now a reality,” said Mathew.
Tarun Thomas George, Chief Operating Officer of Cavli, adds to what Mathew stated by bringing up the team’s commitment to delivering IoT technologies.
“Our team is united by a passion for developing and delivering innovative IoT technologies that can drive transformative changes to our customers, and with this investment, we are poised to accelerate the pace of that change,” said George.
The round is led by Chiratae Ventures and Qualcomm Ventures. In addition, a major U.S. technology conglomerate also participated in the round.
Edited by
Alex Passett
