SoftBank and Deutsche Telekom were among the participants in the first funding round to be disclosed by the internet-of-things connectivity provider.

Internet and telecommunications group SoftBank and telecoms firm Deutche Telekom took part in a $50m funding round for Germany-based internet-of-things (IoT) network carrier 1nce on Wednesday, investing alongside unnamed others.

Founded in 2017, 1nce provides cellular connectivity at a fixed price across multiple networks – including 2G, 3G, 4G, 5G, LTE-M and NB-IoT – and claims it currently manages a total of about 10 million connections for more than 7,000 business customers.

Proceeds from the round will be used to…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
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