Onomondo, a Danish provider of a platform that offers interoperable cross-border connectivity and performance management without operator constraints, raised USD21m in growth funding.
The round was led by Verdane with participation from existing investors Maersk Growth, People Ventures and The Danish Growth Fund.
The company intends to use the funds to to scale its team from 50 to 100 by the end of 2022, and accelerate growth in Europe with plans to triple Annual Recurring Revenue (ARR) in 2022 & 2023.
Led by Michael Karlsen, Co-Founder & CEO, and Henrik Aagaard, Co-Founder & CTO, Onomondo has created a single virtualised IoT network, which integrates more than 700 operators at the Radio Access Network (RAN) level across more than 180 countries.
Devices connected to Onomondo contain an interoperable SIM card, meaning assets can seamlessly move across national borders without the inherent complexity of roaming. Data is transferred directly across the Onomondo virtual network to one of the firm’s cloud partners (Microsoft Azure, AWS, Google Cloud and more), so enterprises can easily understand what is going on between devices and the network, through to the core network, and on to the IoT cloud from a single interface.
The company serves a customer base, which currently includes the likes of Bosch, Carlsberg, and Maersk.
FinSMEs
05/07/2022