Onomondo Raises $21M in Growth Funding
Summary
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 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. The company serves a customer base, which currently includes the likes of Bosch, Carlsberg, and Maersk.
Funding
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