Cellular IoT Connectivity Provider Raises $11M in Funding
Wednesday, June 09, 2021 | Comments

Monogoto 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 application programming interfaces (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.

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 business-to-developer (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.

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 Citizens Broadband Radio Service (CBRS) applications, while enabling modern architectures such as zero-trust and secure access service edge (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.

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