Investment is again available for the right IoT connectivity business

floLIVE raised a major round of funding (USD47 million), and Cubic Telecom was sold for a huge valuation (approaching USD1 billion) towards the end of 2023. This follows a 2-year period with few announcements of major rounds of funding for IoT connectivity firms. 

The deals represent a partial return of investor interest in the IoT connectivity market. floLIVE and Cubic have unique aspects to their businesses which set them apart from other, less differentiated connectivity providers. These investment announcements are a useful sign that investors remain interested in IoT connectivity, but money is only finding its way to the right businesses.