Onomondo, a pioneer in connectivity, has raised $21 million in growth investment led by Verdane, in order to lead the global IoT stack

Onomondo, a pioneer in connectivity, has raised $21 million in growth investment led by Verdane, in  ...

COPENHAGEN, Denmark (BUSINESS WIRE) On July 5, 2022, I'll update you.

Transport, manufacturing, and logistics have long sought to exploit the Internet of Things (IoT) to manage supply chains, increase automation, and increase efficiency. Today's approaches rely on a patchwork of national telecoms operators or Mobile Virtual Network Operators (MVNOs). This patchwork means enterprises cannot obtain sufficient interoperability, visibility, or control over their connected assets on a worldwide basis.

To ensure that digital transformation can take place at scale in physical industries, a fundamentally different technical and commercial architecture for IoT connectivity is required. Instead, Onomondo has integrated more than 700 operators at the Radio Access Network (RAN) level across more than 180 countries, as well as layering its own API-based IoT platform on top. This allows users to tap into their global grid and troubleshoot IoT devices from anywhere.

Devices connected to Onomondo have a SIM card that is interoperable, allowing assets to seamlessly travel across national borders without the need for roaming. Data is transferred directly across the Onomondo virtual network to one of the firms cloud partners (Microsoft Azure, AWS, Google Cloud, etc.), so enterprises can quickly see what is going on between devices and the network, then onto the IoT cloud from a single interface.

Onomondo redesigned its commercial offering to be unlike any offered today, allowing enterprises to set priorities based on cost, coverage, and performance, thus preventing operator lock-in by providing the freedom to choose precisely which networks devices connect to, depending on the use case.

Michael Karlsen, Onomondo's co-founder and CEO, said: "We think it's interesting how the focus on IoT has traditionally centered on Hardware and Cloud. Connectivity was the commodity added in the end." We see a clear shift now towards the market seeking more from their connectivity solution. All of this will eventually benefit both people, profit, and the environment.

Verdane, a leading growth equity investment firm, is leading the round, which will help the company grow its digital consumer, software, and sustainable society businesses. By the end of 2022, the company plans to expand its customer base, which includes Bosch, Carlsberg, MAN Energy Solutions, and Maersk.

Michael, Henrik, and the Onomondo team are bringing a fresh, next-generation perspective to the IoT market today, according to Pal Malmros, Partner at Verdane. We are confident that Onomondo's solution has the potential to dramatically accelerate the worldwide roll-out of IoT, as well as expand the total set of addressable use cases, and we look forward to partnering with the company to significantly accelerate the international growth and expansion.


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