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Broadband and wireless network provider Connexin, which in March 2025 sold their full fibre network to CityFibre (here), has today announced that they’ve secured a financing package worth up to £35m to support the continued deployment and growth of their Long Range Wide Area Network (LoRaWAN)-based IoT smart water meter network across the UK.
The package comprises a £10 million facility from Santander UK, alongside a £5 million revolving trade facility, £10 million of financing provided through PATRIZIA-managed funds, and a further £10 million accordion facility, providing Connexin with total potential funding capacity of up to £35 million.
The goal of this is to support the “large-scale rollout of critical smart water infrastructure“. Back in August 2025 Connexin revealed that their LoRaWAN wireless network had already connected 250,000 UK smart water meters across several leading suppliers – including Northumbrian Water, Essex & Suffolk Water, Yorkshire Water, and Severn Trent Water. But the provider intends to spread this even further.