Onomondo Raises €100 Million for IoT Infrastructure Expansion
Copenhagen-based Onomondo, a company specializing in IoT connectivity, has announced a significant funding boost with a €100 million investment. This funding round was led by Aspirity Partners, with participation from existing investor EIFO. Onomondo offers a global IoT connectivity platform that provides product teams with an IoT SIM card for worldwide deployments, complete API control, and network-level security.
Leadership and Vision
The company, founded by Michael Freundt Karlsen and Henrik Aagaard, is currently led by CEO Rasmus Jensen. "This investment allows us to accelerate our international growth and further develop our platform," Jensen stated.
Strategic Use of Funds
The fresh capital will be directed towards expanding Onomondo's international presence, investing in additional network equipment, and developing new products. Onomondo's platform already supports over 500 business customers, including notable firms such as Maersk, Carlsberg, and Husqvarna.
Investor Details
As part of the transaction, lead investor Aspirity Partners will acquire a majority stake in Onomondo. EIFO, which has been a backer since 2021, will increase its investment. The deal is pending regulatory approval and is expected to close in the first quarter of 2027.
Expansion and Impact
Onomondo's cloud-based IoT network provides direct access to nearly 700 mobile networks across more than 180 countries. This infrastructure supports private LTE networks for over 450 Maersk vessels, allowing seamless switching between private and public networks.
This funding round marks a critical step in Onomondo's mission to scale its IoT infrastructure globally, ensuring that connected devices remain simple and secure.