French IoT startup files for bankruptcy protection

Sigfox, a high-profile IoT startup that had ambitions to build a global communications network using a new approach to wireless networking, has filed for bankruptcy protection in France, citing slow sales of its products and challenging conditions due to COVID-19.

The company says it will be using the process, which will initially last six months, to seek a buyer to support Sigfox’s long-term development and propose to maintain jobs.

It will continue operations in the meantime: Sixfox says says its network spans 75 countries.