IoT Carrier 1NCE has announced $50M in financing. The capital is 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.
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 talent to expand its product capabilities.
“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,” emphasized 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.”
Timotheus Höttges, CEO of Deutsche Telekom, added, “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,” explained 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.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.