A.P. Moller - Maersk has announced it is investing in Danish IoT startup Onomondo.
The investment is for an undisclosed amount, and is being made by Maersk Growth. In a statement the company said A.P. Moller - Maersk “has chosen the solution as an enabler to stay ahead in the pursuit of further digitising its global asset base”.
Onomondo, founded by Michael Freundt Karlsen and Henrik Aagaard in 2012, is a global cellular operator for the Internet of Things (IoT), working to connect and simplify enterprise-grade connected services across the globe
“Onomondo is in the market with a proven technology that enables A.P. Moller - Maersk to more efficiently reap the benefits of digitizing its global asset base. We are impressed with the team and its progress so far. With our expertise and access we believe that Onomondo will further accelerate and scale the business in the next stages of its exciting journey”, said Sune Stilling, Head of Maersk Growth.
Onomondo’s expertise is in what it calls “embedded connectivity”, where the SIM card in an IoT device is designed from the outset to be compatible with different mobile networks. The technology Onomondo has developed has the potential to eliminate the complicated process of commercial agreements and technology integration to enable IoT devices to roam globally across networks that exist today.
The company does not have or aim to install any of its own cellular network hardware. Instead it has developed a “teleco engine” and a special SIM card that works on any network by accessing it through an internet protocol. The company began working on its idea in 2011 and, despite running out of cash for a short time in 2014, has persisted.
Onomondo is now marketing an IoT “global solution” that keeps any device connected anywhere on the globe. “We have 550 network partners across 196 countries, with multiple network vendors per country. This means that you’ll never outgrow our networks — you can deploy as many devices in as many locations as you like, all without ever missing a beat”.
The concept would appeal to a global company like Maersk, which wants to track and monitor assets involved in global shipping and transportation. “We are looking for solutions that are easy to implement, unified and have a high degree of cyber security. Onomondo delivers on all of these parameters,” said Klaus Egeberg, Head of Mobility and Connectivity, Maersk Group.