Highlights:

  • According to the company, developers and businesses may benefit from real-time administration, security, and flexibility with its solutions.
  • With a client base spanning Fortune 500 corporations and industries like automotive, retail, energy, supply chain, and smart cities, Monogoto has amassed a substantial clientele.

Monogoto Inc. secured USD 27 million in the new funding round to expand its footprint worldwide. The Internet of Things (IoT) connectivity management platform startup will recruit for key roles and positions globally and fuel its go-to-market strives.

Established in 2018, Monogoto offers software-oriented connectivity solutions that deliver secure communication via LTE/5G networks and satellite, both public and private. The company’s platform is marketed as fixing IoT device communication by a method based on APIs, providing continuous, industry-oriented context aware services.

Using 550 worldwide networks, Monogoto’s one subscription model enables businesses to connect devices in more than 180 countries for what the company claims is reliable, automatic connectivity. According to Monogoto, companies and developers would benefit from security, real-time administration, and flexibility with its services.

The platform incorporates fine-grained connectivity control to meet security, compliance, and energy management requirements. Besides, it enables developing scalable and global IoT systems for multiple gadgets, comprising drones, electric cars, and streetlights.

Co-founder and Chief Executive Itamar Kunik said, “Connectivity has evolved from simple human networks to advanced, software-defined systems, but it still remains a complex, context-dependent challenge. Devices like drones and electric cars have different connectivity needs depending on their state, requiring agile, scalable solutions. Legacy tools cannot simply be duplicated for the new era. Just as AWS transformed the cloud and Twilio scaled communications, Monogoto is redefining connectivity.”

With a customer base spanning Fortune 500 corporations and industries such as retail, automotive, supply chain, energy, and smart cities, Monogoto has built a considerably substantial clientele.

Toyota Ventures spearheaded the Series A investment. The funding round also witnessed the participation of Samsung Next, ACTIVE Fund LP, Magenta Venture Partners LP, Assembly Ventures LP, and J-Ventures.

“Enterprises have long sought a digital infrastructure that can seamlessly facilitate connectivity — and Monogoto is leading this shift with its software-defined, accessible, and affordable solution,” said Assembly Ventures Co-founder and Partner Chris Thomas.

Tracxn data suggests that Monogoto had already reeled in USD 11 million in a single investment round before this new one.