Cologne-based maker of managed connectivity services for IoT devices 1NCE has announced that it’s signed a deal with Japan’s SoftBank Corp. that will see the latter selling 1NCE IoT services exclusively in 19 APAC markets.
The deal will see 1NCE open offices and launch technical operations in Singapore and Tokyo that will support services in Australia, Bangladesh, Cambodia, China, India, Indonesia, Japan, Malaysia, Myanmar, Nepal, New Zealand, Pakistan, Philippines, Singapore, South Korea, Sri Lanka, Taiwan, Thailand, and Vietnam.
“1NCE is the only company that can deliver true cross-border, future-proof IoT connectivity without uncertainty – a perfect extension of SoftBank Corp.’s existing IoT portfolio,” commented SoftBank’s Daichi Nozaki. “We’ve closely followed 1NCE’s strong U.S. launch earlier this year and expect the same explosive growth in the underserved APAC region.”
1NCE offers cellular device connectivity at a fixed price in over 110 countries and claims to manage more than 10 million connections for over 7,000 business customers from around the globe at present. The company boasts 100+ staff based in places like Cologne, Hamburg, Amsterdam, London, Rome, Paris, Warsaw and Riga, it says.
In late September of 2021, 1NCE welcomed Deutsche Telekom, SoftBank, and other investors to the cap table in a $50 million venture round, and in late January of this year, New York-based I Squared Capital joined the backers with an undisclosed investment.
“Asia is by far the biggest market for cellular-connected IoT. According to the Transforma Insights TAM Forecast database, collectively the 19 countries covered by the cooperation accounted for 57 percent of cellular IoT annual shipments in 2021 and will represent more than half of the world’s cellular IoT connections for at least the next decade,” added Matt Hatton of Transforma Insights.