IoT Carrier 1NCE reports it has raised $50 million (€42.87 million) in new financing. The capital is being provided by investors including Deutsche Telekom, SoftBank, and other investors. 1NCE offers cellular device connectivity at a fixed price in over 100 countries via 2G, 3G, 4G, 5G, NB-IoT and LTE-M. Its cloud-based connectivity platform includes IoT services such as plug-and-play setup and device management.
1NCE will use the fresh capital to accelerate international expansion and fuel growth in the US and Asia, further develop its cloud based IoT platform services and recruit key talent to expand its product capabilities to simplify the development of cellular based IoT solutions worldwide.
“With SoftBank we have gained an investor who brings in expertise from investments in telecommunications, internet services, AI, smart robotics, IoT and clean energy technology providers,” says Alexander P. Sator, CEO and founder of 1NCE. “We are thrilled to work with them to leverage the new opportunities in Asia and the US that come with the engagement.”
1NCE’s offering provides customers with the tools to efficiently scale and manage their IoT deployments, while providing a transparent cost structure. This tackles challenges that too often stand in the way of mass IoT deployments. The reduction of complexity, implementation time, and cost allows customers to speed up time-to-market and drive their business forward successfully.
Deutsche Telekom is committed to its investment in 1NCE. The telecom giant has been on board as seed investor since the company’s founding in 2017 and uses 1NCE technology for its own IoT offerings. The investment by SoftBank expands on the recent strategic partnership formalised between SoftBank and Deutsche Telekom and provides a clear opportunity to co-invest in global connectivity platforms focused on enterprise customers.
Timotheus Hottges, CEO of Deutsche Telekom, adds, “1NCE has already demonstrated its disruptive potential in the IoT market, and its growth to date has underpinned its claim to leadership in cellular-based connectivity services. As a technology partner from the very first hour, we are happy to actively foster further growth.”
“1NCE is a leader in connecting millions of low bandwidth sensors around the world”, explains Marcelo Claure, CEO, Softbank Group International and COO, SoftBank Group Corp. “Using their technology offers incredible opportunities for our portfolio companies. With our investment in 1NCE, we look forward to accelerating the breakthrough of connectivity on the Internet of Things.”
1NCE already manages 10 million connections for over 7,000 business customers from around the globe. Its services are available through direct sales and online channels. Additionally, the company is a premium technology partner of Amazon Web Services with exclusive offerings for developers on AWS Marketplace.
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September 29, 2021 at 06:20AM by Anasia D'mello, Khareem Sudlow
