The Monogoto journey has been nothing short of excitement. What began as an ambitious idea of lowering the barrier to develop connected devices, has now led us to a Series A investment round of $27 million. The round was led by Toyota Ventures and backed by Samsung Next, the ACTIVE fund, Assembly Ventures, Magenta Venture Partners, and J-Ventures, as well as several of our existing investors including Triventures, Singtel Innov8 Ventures, Telefónica, Team8, and Alter Venture Partners.
Seeing the growing number of customers and hearing the amazing stories of the products they develop makes us proud of what we already have accomplished, and makes us excited about the next chapter. This milestone isn’t just about the investment itself, it is yet another validation of the market reacting to our software-defined connectivity platform that enables the next generation of connected devices.
When we started Monogoto, we were inspired by the impact of cloud hyperscalers like AWS on the tech industry. Services like Shazam, Spotify and Dropbox might not have emerged if they didn’t have access to easily manageable cloud services. Being freed from the burden of building data centers, buying storage and managing cloud infrastructure, companies could focus on innovation. This is the role we have taken upon ourselves, but for connectivity. We’re taking away the hurdles around connectivity, allowing customers to focus on creating value.
There’s a difference between merely providing SIMs and fully empowering customers to build the next generation of connected products. We set out to remove the difficulties of connecting, monitoring, and managing physical devices from the cloud. Today, we’re seeing the impact of our work through the innovation coming from our customers. For our customers, connectivity is crucial, it’s the lifeline for so many innovative products and services we see around us every day. What would happen if we cut connectivity out of autonomous vehicles, drones, electric scooters?
However, connectivity is not binary, while it’s often perceived as such. It’s context-driven, requiring different levels of quality of service, latency, data throughput, and security depending on the situation. There are many knobs to turn based on the time, location and specific needs of the use case. Requirements also change over time, whether it is during development, manufacturing, or after deployment.
We cannot foresee what the future will bring, so we strive to keep all options open and give customers full control over their devices in the field. Through our connectivity platform, features can be turned on or off at the flick of an API call. Whether it’s optimizing energy usage, enabling satellite connectivity, debugging via Packet Capture or controlling configurations or firmware on the device itself. Think about an AI-powered delivery drone that offloads its logs on a private network, receives an emergency update over a public network, and connects to a satellite network when there’s no coverage at all.
Seeing Monogoto grow to where we are today has been an incredible journey. This investment allows us to maintain the momentum, enhance our platform, and continue with our promise – to put the customer at the center of it all, we are here for you!
We’re committed to pushing for a more seamless connectivity experience, implementing cloud best practices to control the world of devices – all through API calls and a self-service platform. But ultimately, it’s not about us nor about connectivity. We’re merely providing the building blocks for others to build upon. The true value comes from the applications developed by the people using our services.
A big thank you to everyone who has been part of this adventure; our incredible team members and their families, our great investors, partners and customers, and to my co-founder Maor (read his latest blog). Without them we couldn’t have been where we are today. We’re excited about what the future holds and look forward to continue supporting the ones who are shaping the world, through seamless software-defined connectivity.
We can’t wait to hear the new, groundbreaking stories that will emerge through this new round of investment. Your success is our success, and we’re honored to be a part of your journey.
Read the TechCrunch article here.
Itamar Kunik
CEO & Co-founder, Monogoto
