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Wirepas is a company that develops ultra-resilient "wireless mesh networks" for industrial monitoring IoT applications, providing reliable, wireless, and scalable connectivity as a key selling point. The project funding will support research, development and innovation aimed at improving the software stack platform for Internet of Things (IoT) devices in sectors such as smart metering, smart building and smart tracking. It will also promote the standardisation of radio frequency (RF) communication within the 1.9 GHz unlicensed band, enabling wider adoption and greater efficiency.
The investment will expand IoT firmware portability, ensuring compatibility with new hardware and strengthening interoperability across technologies. In addition, it will accelerate geographic expansion, introducing these innovations to new markets. This initiative is expected to create a more scalable and efficient IoT ecosystem, enhancing connectivity and communication standards for emerging applications.
The operation is in line with the InvestEU objectives of research development and innovation. Specifically, the eligible area as per Annex II of the InvestEU Regulation is: The development, deployment and scaling-up of digital technologies and services in particular through: Internet of Things.
The project's purpose is to assist the Company in their research, development, and innovation efforts to enhance their competitive advantage and support the expansion and portability of their software stack for IoT across multiple devices and market verticals.
It also promotes investments in digital technologies that align with the EU policy goals, such as the Digital Europe Programme and Europe's Digital Decade targets for 2030. This initiative aims to enhance the sector's competitiveness for the benefit of citizens and businesses throughout the Union, while also supporting the Bank's policy objective of "Innovation, Digital, and Human Capital." These activities are anticipated to foster the accumulation and dissemination of knowledge within the European industry.
This operation addresses market failures and gaps related to (i) Information asymmetries, in particular in the case of SMEs and small mid-cap companies, including higher risk levels related to early stage firms, firms with mainly intangible assets or insufficient collateral, or firms focusing on higher risk activities, and (ii) cross border infrastructure projects aimed at addressing the fragmentation of the internal market and to enhance coordination in the IoT communication networking protocol primarily in the fields of smart metering, smart building automation, and asset tracking.
The project would not have been carried out (to the same extent) by the EIB without the InvestEU support
The project's activities will be performed in existing buildings with no relevant environmental impacts expected. The project does not fall under the environmental impact assessment (EIA) Directive 2011/92/EU, as amended by the EIA Directive 2014/52/EU, therefore no EIA is required.
The promoter has been assessed by the EIB as being a private company not operating in the utilities sector and not having a status of a contracting entity, and is thus not subject to EU rules on public procurement.