# Onomondo

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/onomondo-aps

- Industry: Software
- Headquarters: Copenhagen, Denmark
- Website: www.onomondo.com
- Total disclosed funding: $23M
- Latest round: Series A (Jul 5, 2022)
- Investors on record: 6

## About

Onomondo ApS provides an extensive global IoT connectivity stack, specializing in innovative IoT SIM cards and services that enhance device connectivity and operational efficiency across various industries.Founded in 2012 in Copenhagen, Denmark, Onomondo ApS focuses on IoT connectivity solutions. The company has undergone strategic developments, with its latest funding round a Series A raised in July 2022, amounting to USD 21.00 mn, led by Verdane Capital Advisors, with participation from Maersk Growth, People Ventures, and Vaekstfonden. The firm has completed a total of 7 deals to date. Michael Karlsen, who is also the CEO, co-founded the company alongside Henrik Aagaard.Onomondo specializes in offering a comprehensive global IoT connectivity stack, primarily through innovative IoT SIM cards and related services. Their global IoT SIM enables secure and reliable connections across over 680 networks in 180 countries, designed to enhance battery life, lower operational costs, and streamline data usage for applications such as asset tracking and logistics. Onomondo serves a diverse clientele, from startups to established enterprises, across markets in Europe, North America, and Asia, providing tailored connectivity solutions.Onomondo operates on a subscription-based revenue model, delivering scalable IoT connectivity solutions through B2B transactions. Their pricing starts at EUR 0.003 per MB of data usage, with bulk SIM pricing options available for larger businesses. In the most recent financial year of 2023, the company reported an EBITDA of USD -5,952,600.20, reflecting its operational investments and ongoing development efforts.With the funding raised in July 2022, Onomondo plans to expand its team and operations within Europe. The company aims to enhance its product offerings and is likely to introduce new services tailored to emerging market demands. Specific geographic regions targeted for expansion have not been disclosed, but the ongoing growth strategy suggests a commitment to solidify its presence in established markets while exploring opportunities in new territories.

## Funding rounds

- Series A, Jul 5, 2022, $21M — Verdane, Vaekstfonden, Maersk Growth, People Ventures
- Series A, Jul 13, 2021 — Vaekstfonden, People Ventures
- Seed, Nov 20, 2014, $1.5M — The Market Development Fund, Sealand Capital

## Investors

- The Market Development Fund — Seed
- Sealand Capital (https://capitalatlas.ai/funds/sealand-capital) — Seed
- Vaekstfonden (https://capitalatlas.ai/funds/vaekstfonden) — Series A
- People Ventures (https://capitalatlas.ai/funds/people-ventures) — Series A
- Verdane (https://capitalatlas.ai/funds/verdane) — Series A
- Maersk Growth (https://capitalatlas.ai/funds/maersk-growth) — Series A