Monogoto

Overview

Monogoto is a Palo Alto-based technology company that specializes in software-defined connectivity solutions. Founded in 2018 by Itamar Kunik and Maor Efrati, the company aims to revolutionize Internet of Things (IoT) connectivity through its innovative platform that simplifies the connection of devices across varied networks. Recently, Monogoto raised $27 million in a Series A funding round, bringing its total funding to $38 million. With operations in over 180 countries and leveraging more than 550 LTE/5G and satellite networks, Monogoto serves a diverse range of industries, including automotive, retail, energy, and smart cities.

Recent Developments

October 2024: Monogoto announced it has raised $27 million in a Series A funding round led by Toyota Ventures. Other investors include Samsung Next, The ACTIVE Fund, Assembly Ventures, Magenta Venture Partners, and J-Ventures. This investment brings their total funding to $38 million, which will be used to accelerate their global expansion and recruitment efforts, particularly strengthening their go-to-market strategies.
- The funding round highlights a growing demand for Monogoto's "connectivity-as-a-service" platform, which offers businesses secure, scalable connectivity across public, private LTE/5G, and satellite networks.
September 2024: The company collaborated with Kigen to announce the readiness of their iSIM Evaluation Kit, which will enable developers to leverage groundbreaking integrated SIM technology.
May 2024: Monogoto partnered with Xyte to launch Xyte Anywhere, a solution enabling OEMs to manage connected devices remotely with ease, supported by Monogoto's network which spans over 180 countries.
February 2024: At the Mobile World Congress, Monogoto announced new collaborations that include the introduction of a soft SIM technology tailored for low-power networks in partnership with Actinius, reflecting its commitment to innovating in connectivity technology.

Attribute	Information
Founding Date	2018
Headquarters	Palo Alto, California
Founders	Itamar Kunik, Maor Efrati
Total Funding	$38 million
Key Investors	Toyota Ventures, Samsung Next, Assembly Ventures, Magenta Venture Partners, J-Ventures
Industry	IoT and Connectivity
Number of Employees	~50

Early History

Monogoto was co-founded by industry veterans Itamar Kunik and Maor Efrati, who both have backgrounds in telecom infrastructure and technology development. Their shared experience from working within the Israeli military’s telecommunications projects drove the inception of Monogoto with the intention to simplify and innovate the way devices connect to networks globally. Initially, Monogoto focused on solving the connectivity challenges that enterprises faced in employing IoT solutions across various network technologies and geographical regions.

Company Profile and Achievements

Monogoto distinguishes itself with a robust cloud-based connectivity platform that facilitates API-driven solutions for enterprises and developers. This platform simplifies device connectivity, offering continuous, context-aware connectivity that's critical for IoT deployments like autonomous vehicles and smart city infrastructure.

**Key Milestones: **
- Raised a total of $38 million within three funding rounds by 2024.
- Established a presence across 180 countries, leveraging 550 networks.
- Developed partnerships with major investors and tech innovators including Toyota Ventures and Samsung Next.
- Enabled seamless network management for Fortune 500 companies through both public and private LTE/5G networks along with satellite connections.

Current Operations and Market Position

Currently, Monogoto serves a broad array of industrial sectors by providing connectivity solutions that are versatile and scalable. Its customers benefit from Monogoto’s emphasis on security, agility, and ease of integration, which are key for deploying IoT networks at scale. The company's solutions also facilitate important aspects such as compliance, security, and energy management within a spectrum of applications ranging from smart metering to fleet management.

Conclusion

Monogoto has established itself as a pivotal player in the connectivity landscape, marked by its cutting-edge platform that mitigates the complexities associated with managing diverse networks. The recent surge in funding and expansion efforts align with ongoing advancements in IoT technologies and the growing need for flexible connectivity solutions. With a visionary leadership team and a strong focus on breaking innovation barriers, Monogoto is well-positioned to influence the future of global connectivity, integrating seamlessly into the evolving digital ecosystems centered around AI-driven solutions.