RESEARCH TRIANGLE — Able Devices, which sells an application engine that puts Internet of Things (IoT) controls on standard SIMs found in every mobile device, has raised $1000,000 in debt cash, according to a filing with the U.S. Securities and Exchange Commission.
The company previously raised more than $550,000 in equity.
According to the company, its SIMbae utilizes 3GPP SIM standards, working on all SIMs, implemented IoT controls and applications become device and network agnostic — with benefits including shorter time to market, reduced development and operating cost, improved security, and the leveraging of the sunk cost and underutilized processing power of the SIM.
It says SIMbae offers control of each device’s connectivity, including roaming and data connectivity that is independent of the MNO owning and/or operating a specific part of the network utilized by an enterprise IoT device.
In wake of 2 big deals, Raleigh IoT wireless startup Able Device lands $300K (+ video)
