SkyFii raises $4 million

Wi-Fi-based data analytics firm raises capital

Sydney-headquartered SkyFii has received firm commitments exceeding $4 million for its recent share placement, the ASX-listed company has revealed.

SkyFii provides a Wi-Fi-based analytics platform.

According to an investor presentation released this week, the company has achieved 15 per cent penetration of the Australian retail mall market over the last 12 months and has a $40 million+ revenue pipeline over five years from contracted customers and advanced stage sales.

SkyFii said it would use the money raised from the share placement to accelerate the company's expansion and strengthen its balance sheet.

The company has announced a number of deals over the 12 months, including signing a master services agreement that will governing the deployment public Wi-Fi access and analytics to GPT Group’s shopping centres and an agreement to trial Wi-Fi at a number of venues owned by hospitality group Merivale.

SkyFii last month revealed it had signed a wholesale distribution agreement with UK-based Data Solutions. Under the agreement the wholesaler can sell SkyFii's services to Aruba Networks resellers as well as non-Aruba wireless resellers in the UK and Ireland.

Earlier this year SkyFii began rolling out Wi-Fi services across five Brazilian shopping centres owned by Iguatemi.

"It's been just under a year since SkyFii listed and I'm delighted with the business rollout progress," CEO Wayne Arthur said in a statement.

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