Copenhagen-based IoT connectivity company Onomondo, which provides infrastructure for connecting and managing connected devices across global networks, has secured more than €100 million in a combined investment led by Aspirity Partners, with participation from existing investor EIFO, as the company looks to accelerate its international growth.
- Founded in 2012 by Michael Freundt Karlsen and Henrik Aagaard, Onomondo operates a cloud-based IoT network with direct access to nearly 700 mobile networks across more than 180 countries.
- Its technology includes a software-based SIM and a platform that connects devices, networks, and cloud infrastructure.\
- The company serves more than 500 business customers, including Maersk, Carlsberg, and Husqvarna.
- Its infrastructure also supports private LTE networks across more than 450 Maersk vessels, allowing connected assets to switch between private and public networks.
Details of the deal
- As part of the transaction, London-based Aspirity Partners will acquire a majority stake in Onomondo, while EIFO, which has backed the company since 2021, will increase its investment.
- The transaction remains subject to regulatory approval and is expected to close in the first quarter of 2027. Onomondo CEO Rasmus Jensen will continue to lead the company.
- The fresh capital will enable Onomondo to accelerate its international expansion, invest in additional network equipment, and develop new products.
