ESIP Sigfox (IFC-39119)

  • World
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
May 25, 2017
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Communications
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 16.41 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 21, 2018

Disclosed by Bank Feb 10, 2017

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.
According to IFC website, Sigfox SA (Sigfox) is building and operating the world’s leading provider of connectivity for the Internet of Things (IoT). The company has built a global network to connect billions of devices to the Internet while consuming as little energy as possible, as simply as possible. As of October 2016, the network roll-out has been launched across 27 countries. It is seeking to raise up to EUR200 million of expansion capital to fund (i) the continued rollout of Sigfox’s network across the globe, including through joint-venture in particular in emerging markets, (ii) the expansion of teams across regions and functions, (iii) research & development investments and (iv) other general corporate & operating expenses. IFC is considering an investment of up to EUR15 million in the Series E equity round. The expected development impacts are: 1. Technology transfer to the next generation of IoT networks out of Europe to emerging markets. As a use case example, switching for GPRS to Sigfox LPWA could reduce communication costs for Distributed Energy Services Companies (DESCOs) operating in Africa and Asia by up to 80%. 2. Low cost connected sensors and devices generate a wealth of data which are used to improve resource efficiency and safety across all industry verticals, including supply chain, energy management, transport, production machinery, health monitoring, security, etc.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
The project sponsors are the founders, Ludovic Le Moan and Christophe Fourtet who co-founded the Company in 2009. Key existing shareholders in the Company include BPI France, Elliott Management, IDInvest, Intel Capital, Elaia Partners and Partech.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
Project Contact: Xavier Drilhon Deputy CEO, Sigfox 3 Rue de Londres, Paris, 75009,France Telephone No.: +33 1 83 81 49 60 General IFC Inquiries IFC Communications 2121 Pennsylvania Avenue, NW Washington DC 20433 Telephone: 202-473-3800 Fax: 202-974-4384 ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at You can learn more about the CAO and how to file a complaint at

How it works

How it works