ISense Global, a smart city IoT company from Singapore, announced on Monday that it has received a strategic investment from DNAKE (Xiamen) Intelligent Technology, a publicly listed Chinese smart intercom and building automation company.
ISense said this investment will support its plans to expand in the region and work toward a Nasdaq listing within the next five years.
The partnership goes beyond funding. ISense will move its manufacturing from third-party suppliers to DNAKE’s facilities, which will reduce costs, allow faster scaling, and improve quality control.
The two companies will also work together to develop new IoT solutions in areas like healthcare, access control, security, and city-wide monitoring, combining DNAKE’s hardware expertise with ISense’s AI analytics and large-scale IoT experience.
The Southeast Asia smart cities market is expected to grow from $49.1 billion in 2024 to $145.8 billion by 2033.
iSense holds over 80% of the smart lighting market in Singapore’s Housing Development Board (HDB) and plays a key role in the country’s smart city infrastructure.
Its projects save up to 70% energy in parks and more than 50% in public housing estates.
Some IoT deployments connect over one million devices and are valued at hundreds of millions of dollars, showing iSense’s large-scale impact.
“Partnering with DNAKE is a game-changer for iSense. Their manufacturing expertise and public market experience empower us to scale faster, expand internationally, and take on larger, more complex projects,
“Together, we will accelerate smart city innovation at a global scale,” said Christopher Lee, Chief Executive Officer of iSense Global.
Miao Guodong, Chairman and Chief Executive Officer of DNAKE, said they are excited to forge this strategic alliance with iSense Global, whose vision aligns perfectly with their smart city ambitions.
“This partnership enables us to combine strengths and create greater impact in advancing sustainable, connected urban living worldwide,” he added.
iSense is already working on major projects outside Singapore, including the Bangkok Metropolitan Administration (BMA) Smart City Lighting Project in Thailand, citywide smart lighting in Mito City and Koriyama City in Japan, and highway networks across Malaysia.
With new projects starting in the Philippines and Vietnam, and plans to expand into Indonesia, Australia, Europe and the United States, iSense is quickly becoming a global leader in smart city solutions.
This investment marks iSense’s evolution from a quiet market leader into a globally ambitious innovator, united with DNAKE to deliver smarter, safer and more sustainable cities worldwide, said the statement.
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