# GreenWave Reality

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/greenwave-reality

- Industry: Software
- Headquarters: Irvine, US
- Website: www.greenwavereality.com
- Total disclosed funding: $49M
- Latest round: Series C (Jan 5, 2016)
- Investors on record: 5

## About

GreenWave Reality specializes in providing Mobile Virtual Network Enabler (MVNE) platforms, particularly through its WAVELY solution, which empowers businesses to deliver Internet of Things (IoT) connectivity without the need for physical infrastructure.Founded in 2008 in Irvine, US, GreenWave Reality operates as a Mobile Virtual Network Enabler, facilitating Software Defined Mobile Networks. The company was founded by Martin Manniche and Peter Christensen. GreenWave Reality raised USD 30.00 mn in its latest funding round, Series C, led by SG Growth Capital Pte Ltd, with participation from E.ON and others, bringing the total amount raised to USD 30.00 mn.Greenwave Systems specializes in Mobile Virtual Network Enabler (MVNE) platforms designed for Software Defined Mobile Networks, primarily offering the WAVELY solution. This platform serves as a software-defined Network as a Service (NaaS), enabling businesses to operate as virtual network operators and deliver IoT connected services without physical infrastructure investment. The WAVELY solution supports Mobile IoT, eSIM, and device management, aiming to enhance customer support and billing while providing global coverage.Greenwave Systems generates revenue primarily through its WAVELY NaaS platform, which operates on a subscription model. Clients engage with the company to access various connectivity services, paying for different service tiers based on their needs. This Business-to-Business (B2B) transaction structure allows companies to subscribe for a monthly or annual fee, ensuring a consistent revenue stream as clients implement connectivity solutions across multiple markets.GreenWave Reality plans to utilize its most recent funding of USD 30.00 mn from the Series C round to enhance its WAVELY solution and expand into new geographical markets. There are initiatives in place to launch new features in the WAVELY platform aimed at improving service delivery in North America, Europe, and Asia by the end of 2023. The company is also exploring partnerships to broaden its market reach and improve its product offerings.

## Funding rounds

- Series C, Jan 5, 2016, $30M — SG Growth Capital, The Westly Group, E.ON, Singapore Technologies Telemedia
- Series B, Oct 10, 2013, $19M — Craton Equity Partners, The Westly Group

## Investors

- Craton Equity Partners (https://capitalatlas.ai/funds/craton-equity-partners) — Series B
- The Westly Group (https://capitalatlas.ai/funds/the-westly-group) — Series B, Series C
- SG Growth Capital (https://capitalatlas.ai/funds/sg-growth-capital) — Series C
- E.ON — Series C
- Singapore Technologies Telemedia — Series C