25 June 2020

Leading IoT provider Sigfox enters Puerto Rico market with support from local private equity firm, The Phoenix Fund

Press Release
Leading IoT provider Sigfox enters Puerto Rico market with support from local private equity firm, The Phoenix Fund

Dallas, Texas and San Juan, P.R. – June 25, 2020 – The Phoenix Fund, a private equity company in Puerto Rico, in conjunction with Sigfox USA, is proud to announce the recent exclusive acquisition of the Sigfox Technological Platform for the island of Puerto Rico.

The newly created Sigfox Puerto Rico will use ultra-long coverage base stations to create a 0G network. With collaboration from Sigfox, the first global 0G network operator and the world’s leading Internet of Things (IoT) service provider, the network will provide full coverage for the island.

As the newest member of the Sigfox global ecosystem, Puerto Rico will now have the necessary infrastructure for massive and cost-effective IoT connectivity, allowing it to become the next smart country,” said Jose Rodriguez, CEO of Sigfox Puerto Rico. “The arrival of this network is a catalyst for the local creation of new businesses, emergent technology jobs and connected solutions, which will in turn lead to a positive economic multiplier effect for the island. The use cases and verticals for government, enterprise and consumers are endless. From family pets, to diesel generators, refrigerated cargo and utilities, anything can be interconnected. The future is now.

The Phoenix Fund, a private equity company registered under Law 185 of Puerto Rico, provides financing to local companies to foster economic development. Its underwriting criteria focuses on creating employment and income in Puerto Rico.

The President of the Managing Partner of The Phoenix Fund, Francisco J Rivera, expressed, “IoT connectivity will allow for improved intelligent data management and efficiencies that translate into enhanced profitability for our companies, while creating new value and higher returns for our investors. The IoT has the potential to impact every aspect of our lives. We are enthusiastic about our exclusive partnership with Sigfox, the 10-year leading global brand in this technology. Phoenix, alongside Sigfox, will strive to create synergies and cross-pollination opportunities between our portfolio companies and newcomers in our quest to create a New Puerto Rico."

The Sigfox 0G network will help customers create more effective and efficient business processes. Decision making can be done faster and with more accuracy. Furthermore, corporations that operate internationally will be able to seamlessly use and benefit from Sigfox’s network securely across 71 countries and regions without expensive and complicated roaming systems. Individuals will also be able to experience the incredible changes IoT can bring to everyday life through a reliable and cost-effective technology. 

“We are thrilled about our alliance with The Phoenix Fund for the island of Puerto Rico,” said Jeremy Prince, President of Sigfox USA. “By choosing Sigfox, the island has become part of an international network that allows them to monitor and track goods and services from anywhere in the world. Customers will have access to a worldwide ecosystem providing best-in-class Internet of Things technology, sensors and connectivity for myriad use cases.”

 

To learn more about Sigfox Puerto Rico, click here.

To learn more about Sigfox USA, click here.

To learn more about The Phoenix Fund, click here.