1Nce receives 50 million US dollars

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

Deutsche Telekom has been involved in 1Nce since it was founded and is also involved in the current financing round: together with Softbank and other investors, Deutsche Telekom is providing the Cologne-based company with 50 million US dollars. With this, 1Nce intends to drive its expansion into the American and Asian markets and expand its team.

"With SoftBank, we have gained an investor that contributes its expertise from investments in the areas of telecommunications, internet services, AI, intelligent 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 will result from this engagement."

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

Timotheus Höttges, CEO of Deutsche Telekom, comments on the investment: "1NCE has already proven its disruptive potential in the IoT market and its growth to date underpins its claim to leadership in the field of mobile connectivity services. As a technology partner from the very beginning, we look forward to actively promoting further growth."

Founded in 2017, the Cologne-based start-up offers its service as a flat rate as well as Platform-as-a-Service and currently employs 100 people at eight locations in Europe.