IoT connectivity startup EMnify raises $57M in new funding

Berlin-based “internet of things” connectivity firm EMnify GmbH is in expansion mode after closing on a $57 million round of funding today.

London-based growth investor One Peak was the sole participant in the Series B round, which brings EMnify’s total amount raised to more than $80 million.

EMnify has created what it calls a “cellular supernetwork” that connects millions of IoT devices around the world, including electric vehicles, energy meters, alarm systems, GPS trackers and thermometers. The company provides businesses with secure, reliable and borderless cellular IoT connectivity in any location, enabling them to connect easily and scale up to thousands of devices globally.

The company says its IoT supernetwork is the largest independent IoT network of its kind, supporting local network access through 2G to 5G, LTE-M and NB-IoT from more than 25 cloud regions to more than 600 radio network operators in 195 countries.

EMnify Chief Executive Frank Stoecker explained that his company provides the underlying technology that eliminates what is otherwise usually a very cumbersome task for many companies – connecting assets or sensors to a businesses’ operations in situations where Wi-Fi is not an option.

“Just like Stripe and Twilio, EMnify is an infrastructure element that positions us as an ingredient brand for digital-first companies that need to scale quickly,” Stoecker said. “What Twilio did for human-to-human communications, we are doing for machine-to-machine communications.”

EMnify is doing it for a lot of customers too, claiming to be helping “fast-growing IoT companies” in more than 70 countries.

Stoecker said the company now plans to accelerate market expansion and product development globally, with a particular focus on growing in the U.S. market, which is already home to 20% of its customer base.

One Peak Managing Partner David Klein said the need for location-independent, real-time data is greater than ever, and that EMnify is paving the way by providing borderless connectivity as a cloud-native resource analog. “We believe the company has all the ingredients in place to become the global standard in cellular IoT connectivity and look forward to supporting EMnify during its next phase of explosive growth,” he said.

EMnify said it will use today’s funds to further develop its proprietary cellular IoT technology, expand its leadership team and double its headcount to support its planned U.S. market expansion.

Image: EMnify