The WIKA Group is making a strategic investment into LORIOT AG, an IIoT company that provides solutions enabling long-range IIoT networking. LORIOT’s core products include software for scalable, distributed, resilient operation of LoRaWAN networks and end-to-end applications.
WIKA’s investment will further ensure the acceleration of LORIOT’s growth as a leading LoRaWAN network service provider, thereby maintaining a strong focus on innovation in the LPWAN market.
LORIOT and WIKA see this investment as the starting point for a strategic partnership with the common goal of supporting each other in the plans for expansion.
Axel Kaltofen, WIKA executive vice president Process Instrumentation, will be a member of LORIOT’s board of directors and will contribute to the key decisions of the company. According to Kaltofen, WIKA is “looking forward to working together with LORIOT to extend WIKA’s IIoT solutions portfolio.”
“LORIOT is a young and profitable company with an excellent reputation. We've had steady growth since our inception, and now is the perfect time for us to take full advantage of the investment. Even more so with the WIKA Group, which is the ideal strategic partner to help us achieve our full potential and support our future expansion,” commented Julian Studer, CEO and founder of LORIOT.
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