Things are coming together in the Internet of Things (IoT) front in Germany. Communications giant Telekom and its investment partner Softbank say they’re putting USD 50 million into innovative German newcomer IoT firm 1nce.
The Cologne start-up uses mobile phone networks to link up everyday appliances, devices and other things. Manufacturers can locate expansive e-bikes, building management companies can read heating and water meters, and industrial companies can monitor their production machinery – all remotely.
In response to a query by business newspaper Handelsblatt, 1nce declined to name a new company value, but it did say it was well on its way to unicorn status. The latest deal, adds one industry observer, shows the strength of the sector in Germany.
“Investment deals such as the 50-million-dollar investment in IoT connectivity provider and IoT+Network member 1nce demonstrate how mature IoT businesses in Germany have become,” says Falco Schütt, the chairman of the Berlin digital hub, IOT+ Network. “As technology providers of the future data-economy, IoT companies always have to prove that not only their technology works but that they create tangible business benefits and scale with their solutions, in line with their clients‘ needs. Large, multinational investments like that into 1nce by Telekom and Softbank are a clear signal that Germany is competitive in the field of IoT.”