Wednesday, June 19, 2024
HomeHeadlinesCellular IoT Connectivity Provider EMnify Raises $57M in Series B Funding

Cellular IoT Connectivity Provider EMnify Raises $57M in Series B Funding

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EMnify, the cloud-based platform for cellular connectivity in the modern Internet of Things (IoT) stack, today announces a $57 million Series B investment from London-based growth investor One Peak.

The Berlin-based company will use the new capital to accelerate its global market expansion, with a particular focus on the US, and to further develop and optimise its proprietary industry leading cellular IoT technology. The company said it plans to further expand its leadership team and double its headcount in 2022 by hiring the best talent, with a focus on the technology and go-to-market functions in the DACH region and North America.

EMnify equips customers with secure, reliable, and borderless cellular IoT connectivity for millions of connected devices. The company reported a 2016-21 CAGR of 190% for SIM growth and 77% for revenue growth.

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The EMnify API and SIM technologies connect and secure any kind of IoT deployment to its application back-end. Its cloud-native integrations and no-code workflows ensure seamless lifecycle scalability for deployments of all sizes – from local start-up to global enterprise.

Far out-performing industry standards, the EMnify IoT Supernetwork is the single biggest independent IoT network of its kind. It supports local access (2G – 5G, LTE-M, NB-IoT) to over 600 radio network operators – 397 in direct partnerships – in almost 200 countries from more than 25 cloud regions, with plans to add an additional 10 cloud regions in 2022.

“The global cellular IoT market is approaching an inflection point as the need for location independent real-time data is greater than ever, while diminishing module sizes and deployment costs enable an abundance of use cases. EMnify is paving the way to meet the demand for global borderless connectivity to be available as a cloud native resource analogue to other existing components of a modern technology stack,” commented David Klein, Managing Partner at One Peak.

To date, EMnify has raised $80 million (€70 million) in equity capital. Its disruptive software platform and customer-centric approach are made possible by over 110 full-time international IoT experts that are helping fast-growing IoT companies from 70 countries to scale their solutions in more than 140 markets.

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