Monogoto Secures $11 million in Funding for Its Cellular IoT Connectivity Platform

Monogoto, an Israeli startup that has created a global cloud-based cellular network, announced Wednesday that it had raised $11 million in funding led by Team8, with participation from Telefonica Tech Ventures and Singtel Innov8 Alter Venture Partners, Triventures, and Planven Entrepreneur Ventures.

Monogoto delivers worldwide internet of things (IoT) and machine-to-machine (M2M) connectivity with APIs that allow organizations and developers to quickly and securely design, build, manage, control, and scale their IoT applications.

According to the company, enterprises use its platform to connect and control cellular-based sensors and devices such as point-of-sale terminals, ATMs, wearables, smart lights, car, and package fleets and leverage its APIs to provide enhanced flexibility and capabilities such as cybersecurity, procurement, and IT management.

The funds will be used to establish a San Francisco-based office for Monogoto, increase product sales, and increase brand recognition. It will also improve B2D assets by adding additional APIs, documentation, and developer tools, expanding its global points of presence (POP), and accelerating and strengthening the network's 5G infrastructure.

The company already has more than 100 customers in various stages of scaling throughout the world, including Sodaq, Connected You, Origin GPS, and Tvilight. Industry 4.0, smart cities, wearables, agriculture, energy, automotive, telematics, transportation, and healthcare are all served by Monogoto's complete cellular connectivity solution.