1Nce receives 50 million US dollars

It is the first investment of the strategic partnership between Softbank and Deutsche Telekom: both companies are giving 50 million US dollars to the Cologne-based start-up.

Deutsche Telekom has been involved in 1Nce since its founding and is also involved in the current round of financing: Together with Softbank and other investors, Deutsche Telekom is giving 50 million US dollars to the Cologne-based company. With this, 1Nce wants to push its expansion into the American and Asian markets and expand its team.

"With SoftBank, we have gained an investor that brings expertise from investments in telecommunications, internet services, AI, smart robotics, IoT and clean energy technology providers," says 1Nce co-founder Alexander Sator. "We look forward to working with them to capitalize on the new opportunities in Asia and the U.S. that this engagement will create."

1Nce connects the world together: the start-up's software allows devices, machines and vehicles to be connected via mobile networks. The Cologne-based company's cloud-based IoT solutions has 7,000 business customers worldwide. For this, 1Nce also uses Telekom's network, whose investment is part of a strategic partnership with Softbank.

Commenting on the investment, Deutsche Telekom CEO Timotheus Höttges said, "1NCE has already proven its disruptive potential in the IoT market and its growth to date underpins its leadership in mobile-based connectivity services. As a technology partner from the start, we look forward to actively supporting its continued growth."

Founded in 2017, the Cologne-based start-up offers its service as a flat rate, but also as a platform-as-a-service, and today employs 100 people at eight locations in Europe.