Skrivet av Per Stolt • 16 september, 2023 22:44
Interview: Wyld -APAC, fundraising & SpaceX
Alastair Williamson (VD) Wyld Networks
Detta är en intervju i ett betalt samarbete.
Wyld Networks is a climate-tech satellite operator for the internet of things (IoT). Only 15% of the world’s surface has wireless/cellular coverage, meaning 85% of the world’s surface has no access to the internet.
Wyld has solved this problem by using Low Earth Orbiting (LEO) Satellites to provide their customers with 100% global coverage for their IoT sensors and devices.
In today’s interview CEO Alastair Williamson will tell us more about the recent intitated fundraing event, what’s going on with the agreement with SpaceX and why he doesn’t see any more need for capital raising after current event.
1: Tell us more about your recent fundraising initiative?
Alastair Williamson (VD) Wyld Networks: The board and management together have looked at our complete capital needs to reach cashflow positive and decided that we needed a fundraise.
We believe the combination of SEK 30 million (Directed Issue – SEK 15 million and SEK 15 million loan) together with series of TO4 and TO5 warrants will enable us to reach profitability as a company.
In today’s challenging financial environment companies are having to resort to heavily discounted rights issues. However, we have succeeded in raising capital without resorting to heavily discounted deals and have compensated our existing shareholders with free of charge warrants.
The subscription period for the rights issue of free-of-charge warrants is 8th – 22nd September 2023.
We encourage all our shareholders that have received their free unit rights to take up the offer.
2: How will you use the funds acquired through the directed issue and secured loans?
Alastair Williamson (VD) Wyld Networks: Specifically, we will use the funds acquired for 3 areas of focus in the company:
- 45% – Development
So we can continue to build Wyld’s reputation as the World’s leading Virtual Satellite Network Operator. We will continue to create an exceptional portfolio of satellite IoT products to connect to multiple satellite constellations using LoRaWAN and NB-IoT protocols.
- 55% – Commercial activities
Converting more of our existing partnerships into purchase orders and expanding the number of new customers. For the rest of 2023 we will have a particular focus on our expansion into APAC (Asia-Pacific).
3: Are you going to raise more capital in the future?
Alastair Williamson (VD) Wyld Networks: We do not plan on raising anymore capital as we believe a combination of the funds acquired through the directed issue and loan issue together with TO4 and TO5 next year is enough to enable Wyld to go cash flow positive.
4: When will you start shipping product to your customers?
Alastair Williamson (VD) Wyld Networks: We are currently in volume production and have begun deploying of modules and terminals in September.
5: What is your APAC (Asia/ Pacific) Sales strategy?
Alastair Williamson (VD) Wyld Networks: APAC is a huge potential market for us. Now we feel the time is right to begin sales operations in APAC which will coincide with the LoRa Alliance event in Tokyo in October.
Wyld has recently been awarded a place on UK APAC Tech Growth Programme, a UK government-backed initiative to help UK tech firms grow in the Asia Pacific region.
6: Are there any new technological developments?
Alastair Williamson (VD) Wyld Networks: Wyld Networks have recently developed and launched an Intelligent Test Device, the AP100, enabling Wyld customers to run tests across multiple satellite networks and capture IoT data to allow quick to market evaluations and deployments at scale.
Wyld’s cloud-based solution – Wyld Fusion, is a real-time network management tool. It has a new feature – Hybrid Satellite Tracking Map (HSTM) enabling IoT managers to optimize their IoT device network across multiple satellite constellations from Lacuna, Astrocast and Eutelsat.
Wyld Fusion has upgraded the version 2 protocol for service providers and network servers.
The upgraded satellite propagation function will also display pass tables within Groundlink.
There is also an improved Customer Success portal with enhanced subscription-based billing and user guides.
7: Tell us about Wyld’s agreement with Elon Musk’s Space-X?
Alastair Williamson (VD) Wyld Networks: Wyld and SpaceX will explore potential areas of collaboration to collect data from IoT sensors in remote locations. Both SpaceX and Wyld Networks are working on low-bandwidth satellite connectivity using low-orbit satellites. SpaceX and Wyld will initially explore the potential of providing remote connectivity in North, Central and South America.
8: You announced an agreement with a French maritime company. Can you tell us more about this?
Alastair Williamson (VD) Wyld Networks: Yes, we are partnered with Pontos, a French technology company headquartered in Bordeaux, who deliver solutions to enable sustainable fishing practices for local fisheries communities worldwide.
With Wyld Connect, fishing vessels will have the direct sensor to satellite solutions needed to collect temperature, humidity and sea depth measurements from fishing fleets.
For example, a current project involves a fishing fleet of 25,000 vessels based in Latin America and Caribbean.
Over half of the catch in developing countries is produced by local fisheries. Additionally, time at sea has increased up to 60 percent for less catch for almost every fishing vessel.
We are delighted to be working with Pontos to meet the known connectivity challenges of remote maritime IoT using Low Earth Orbiting satellites to deliver the essential data needed to increase profitability and meet sustainability targets.
Dagens Börs would like to thank Alastair Williamson, CEO at Wyld Networks for a very interesting interview, and we wish him and the company the best of luck in the future!
Chart: Wyld Networks (Chart source: infront/Dagens Bors)