Leading "connectivity as a service" provider Monogoto raises $27 million

To assist in managing that task, a firm by the name of Monogoto has developed a platform based on software-defined connection, and it has just announced $27 million in funding. 

The fact that there are several strategic investors in this Series A round highlights the demand for the company's "connectivity-as-a-service" technology. Leading the round is Toyota Ventures, the venture arm of the massive automaker. Other participants included former supporters The Singtel Group, Telefónica, Team8, Alter Venture Partners, and Triventures, as well as new investors Samsung Next, Kickstart, Assembly Ventures, Magenta, and J-Ventures. 

To now, Monogoto has raised $38 million in total. It is keeping its valuation a secret. 

There is a sizable market for bettering connected devices' actual network connections, as several firms have found. The truth is that there are numerous carriers in the globe, and they all have unique rates and wireless technology. This implies that businesses must find out how to piece together patchworks of coverage whether managing a fleet of vehicles or drones, or when operating a services business across several locations or networks. (A few firms operating in this general domain are Wirepas, FloLive, Airalo, and Cubic Telecom.) 

Notably, Palo Alto-based Monogoto addresses that issue with software that it has expanded to cover 550 networks and 180 countries, including private LTE or 5G networks, public cellular networks, and