Copenhagen-based Internet of Things (IoT) infrastructure and connectivity company Onomondo announced a combined investment of more than €100 million led by Aspirity Partners. Aspirity has signed a definitive agreement to acquire a majority stake, while EIFO, Denmark's sovereign investment fund and an Onomondo backer since 2021, will increase its investment alongside the new owner. The funding will support market expansion, product development, and the company's next phase of international growth across the global IoT landscape.
Strategic Investment and Ownership Structure
The transaction followed close to a year of bilateral engagement and emerged from Aspirity's targeted proactive thematic efforts in enterprise technology and connectivity services. It represents Aspirity's first investment in the Nordic region as the firm executes its broader pan-European strategy. Onomondo's leadership chose Aspirity because the firm immediately recognized the company's structural differentiation and shares its vision for the platform's future.
Technology Platform and Market Position
Onomondo has built a proprietary end-to-end technology stack that spans the device, the Radio Access Network, and the cloud. The platform provides native access to nearly 700 networks worldwide, giving enterprises total control, flexibility, and orchestration over their connected assets across multiple environments. Patented Cloud Connectors anchor this seamless ecosystem and support intelligence directly at the edge, where physical AI decision-making increasingly takes place.
The company's SoftSIM technology and hybrid public and private network capabilities allow connected devices to move between private networks and global public networks without operational friction. This hybrid capability is anchored by what is believed to be the world's largest private LTE network at sea, deployed across more than 450 Maersk vessels. More than 500 customers use Onomondo's technology, including global brands such as Maersk, Carlsberg, and Husqvarna.
Investor Perspectives and Growth Plans
Henrik Aagaard, CTO and co-founder, said that the next challenge in technology is creating the right data and getting it to the right place. He described that challenge as an infrastructure problem the company has spent eight years solving with a consistent way to connect devices, create data, and build intelligence into the physical world. Rasmus Jensen, CEO, said Onomondo built a foundational infrastructure layer that was missing from the traditional market approach to simple connectivity.
Ralph Choufani, Co-Founder and Partner at Aspirity Partners, said the physical AI revolution requires network-level intelligence, deep observability, and control from the cloud to the edge. He praised the founders and team for building an exceptional platform that solves complex global connectivity challenges by controlling its own global infrastructure and end-to-end technology stack. Joseph O'Mara, Founder and Managing Partner at Aspirity Partners, said the firm is proud to make its first Nordic investment with Onomondo.
The transaction was supported by contributions from a number of Aspirity's Innovators and Leaders, reflecting the firm's deep sector credentials and close relationships built with management and shareholders. Arma Partners acted as exclusive financial advisor to Aspirity, while Willkie and Accura provided legal counsel in the United Kingdom and Denmark, respectively. EIFO's increased investment signals continued confidence in Onomondo's infrastructure-driven approach to global connectivity and edge intelligence.
The combined investment will drive Onomondo's next phase of growth by expanding its international market presence and scaling its infrastructure deployment. The company plans to continuously develop its proprietary technology to outpace competitors in established connectivity markets while meeting the demands of physical AI. It also aims to capture entirely new, untapped opportunities across the expanding global IoT landscape, reinforcing its position as a defining platform in the sector.