Klingenberg, Germany, April 2022.
WIKA Group is making a strategic investment into LORIOT AG. LORIOT is a leading IIoT company enabling long-range IIoT networks worldwide. LORIOTs core products are software for scalable, distributed, resilient operation of LoRaWAN® networks and end-to-end applications.
WIKA’s strategic investment will further ensure LORIOT expansion and acceleration of its growth as a leading LoRaWAN network server provider. Maintaining a strong focus on innovation in the LPWAN market, introducing new services and setting new standards to enable massive long-range IIoT deployments worldwide.
LORIOT as well as WIKA see this investment as starting point for a strategic partnership with the common goal of supporting each other to address new markets and speed up their expansion strategy.
Axel Kaltofen, WIKA Executive Vice President Process Instrumentation, will be member of LORIOT’s board of directors and will contribute to the key decisions of the company. According to Axel Kaltofen, WIKA is “looking forward to working together with LORIOT to extend WIKA’s IIoT solutions portfolio by LORIOT outstanding products and IIoT know-how for LPWAN network management.”
“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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Key word: WIKA Loriot