The investment has been made through I Squared Capital’s Global InfraTech Fund, which targets growth-stage companies applying transformative technologies such as IoT, to key sectors, including transportation and logistics, the energy transition and digital infrastructure.
“1NCE has the in-house technology and key industry partnerships necessary to become an IoT powerhouse," said Kevin Crull, managing director and global infratech fund partner at I Squared Capital.
"We see strong growth potential for IoT companies, like 1NCE, that enable clients to meet their long-term global strategies in building successful IoT networks. We’re excited to work with Alex Sator, Ivo Rook, and the rest of the rapidly-growing 1NCE team on their next stage of development.”
1NCE has already secured investments from SoftBank and Deutsche Telekom, among others in September 2021 raising $50 million in capital. 1NCE's goal is to deliver global IoT services that enable customers to deploy, connect, and manage IoT sensors in a cost-effective manner.
“1NCE and I Squared have an excellent partnership based on our joint ambition to reshape the future of digital infrastructure,” said Alexander P. Sator, chief executive officer at 1NCE.
"We are going to do great things together in 2022 as we expand our global footprint and increase our ability to solve the problems that have kept the Internet of Things from living up to the hype.”
At the start of the year, the company opened its first new North American headquarters in Miami, with plans to expand of its footprint to more than 140 countries in 2022 and in doing so increasing the number of Tier-1 wireless operators in its global network by 25%.
The company’s next phase of product expansion will focus on intelligent software connectivity and over-the-top services that enable customers to develop and manage IoT solutions on the 1NCE platform.
