Monogoto Raises $11 Million Funding for Cellular IoT Connectivity Platform, Targeting Developers and Enterprises Globally
Cloud-based Infrastructure-as-a-Service and powerful APIs for public and private cellular networks, including 5G and CBRS
Monogoto, the secure, global cloud-based cellular network, closed $11 Million in funding led by Team8, with participation from Telefonica Tech Ventures and Singtel Innov8, as well as Alter Venture Partners, Triventures, and Planven Entrepreneur Ventures.
Monogoto provides global, internet of things (IoT) and machine-to-machine (M2M) connectivity using powerful APIs that enable enterprises and developers to design, build, manage, control, and scale their IoT applications quickly and securely. Enterprises use the Monogoto platform to connect and control cellular-based sensors and devices, such as point of sales, ATMs, wearables, smart lights, fleets of cars and packages, and leverage its APIs to provide enhanced flexibility and capabilities like cybersecurity, procurement, and IT management.
Recommended AI News: AMD EPYC Processors Enable Next Generation Of Hewlett Packard Enterprise Storage
The funding will be used to expand Monogoto’s presence in the U.S. with a San Francisco-based office, grow its product sales and bolster brand awareness and market penetration. It will also be used to enrich B2D assets with more APIs, documentation, and developer tools; extend its global points of presence (POP), and expedite and strengthen the network’s 5G infrastructure.
The company has already seen tremendous success with more than 100 customers worldwide in various scaling stages, accessing the platform to drive IoT growth and innovation, including Sodaq, Connected You, Origin GPS, and Tvilight. Monogoto’s complete cellular connectivity solution serves a broad range of IoT use cases, including industry 4.0, smart cities, wearables, agriculture, energy, automotive, telematics, transportation, and healthcare.
“The cloud revolution and communications (voice calls/ SMS) revolution demonstrated that infrastructure accessible via APIs can be extensively leveraged to innovate products, optimize solutions and offer new business models. A similar revolution is happening in connectivity,” said Itamar Kunik, Monogoto co-founder and CEO.
“To realize the full benefits of this revolution and drive new product and business model innovation, enterprises need much more than high-quality connectivity – they need to be able to control every aspect of that connectivity in order to enable new use cases, such as battery-optimized sensors, changing quality-of-services on demand, bridging the gap between public and private cellular networks, embedding cybersecurity from the infrastructure, and much more. Capabilities that our customers are already implementing using our APIs,” Kunik added.
“Enterprises and developers are hungry for a cloud-native experience that leverages the power of cellular connectivity, using APIs that are centrally managed, self-served, and completely secure,” says Liran Grinberg, Team8 co-founder, and managing partner. “With the full inspection of network traffic and secure computing capability at the edge, all accessible via APIs, Monogoto is able to provide advanced visibility and security controls out-of-the-box, while integrating with the enterprise’s security controls. Team8 is proud to be backing one of the strongest and most secure connectivity platforms in the world, in 5G specifically and cellular generally.”
In addition to enabling global, secure, high-quality, and flexible IoT connectivity today, Monogoto is also preparing for the projected 5G network revolution. As the first-ever, cloud-native single cloud for public and private cellular networks, Monogoto is uniquely positioned to help enterprises and developers create, monitor, manage and maintain connected systems for transformative 5G and CBRS applications while enabling modern architectures such as Zero Trust and SASE for cellular IoT and connectivity.
“We are proud to welcome Monogoto to the Telefónica Tech Ventures family as they are one of the most promising Israeli and global startups within the IoT ecosystem and the first in the IoT field to join our portfolio of invested companies,” says Guenia Gawendo, director of Telefónica Tech Ventures.
Recommended AI News: Acerta Analytics Appoints Alan Tan As Chief Technology Officer