Iota Communications (OTC: IOTC) (“IotaComm”), a wireless communication and data analytics software company, recently announced that it has closed on additional financing from AIP Asset Management, providing it with approximately $1 million of net cash proceeds. “AIP has been a great financing partner for us over the years with investments in the company totaling $15 million, and we are very pleased that their commitment to provide capital continues as we begin to transition to the next phase of our business,” said IotaComm CEO Terrence DeFranco in the press release. “We believe that this financing creates great value for our shareholders and is a testament from our largest financing partner of the new vision and strategy we laid out over a year ago. COVID-19 certainly had an impact on our business, but the silver lining is how well our solutions align with the needs of customers in this new world. Our wireless communication platform provides unique capabilities that differentiate us from the competition in a world where remote applications are becoming more prevalent.”
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About Iota Communications Inc.
IotaComm is a wireless communication and data analytics software company that provides Internet of Things solutions designed to optimize energy efficiency, sustainability and operations for commercial customers. The company is built on a foundation of a portfolio of FCC-licensed spectrum that is used to enable low-power, wide area connectivity, which serves as a unique capability in its Smart Building and Smart City data analytics applications. Iota Communications’ connectivity and analytics solutions help its customers achieve higher returns on assets and investment and more efficient and productive operations. For more information about the company, visit www.IotaCommunications.com.
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