German IoT network carrier 1NCE raises $50 million from SoftBank, Deutsche Telekom and others

1NCE, a Germany-based IoT network carrier, has scored $50 million in funding from SoftBank and other investors.

Founded in 2017 alongside Deutsche Telekom as its seed-stage backer (and also one of the investors in this round, as well as a customer), 1NCE says it will use the fresh capital to grow its business in the US and Asia, to continue developing its cloud-based IoT-software, and – of course – to ramp up recruitment across the board.

1NCE offers cellular device connectivity at a fixed price in over 100 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.

“With SoftBank we have gained an investor who brings in expertise from investments in telecommunications, internet services, AI, smart robotics, IoT and clean energy technology providers,” added Alexander P. Sator, founder and CEO of 1NCE. “We are thrilled to work with them to leverage the new opportunities in Asia and the US that come with the engagement.”

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