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- 1NCE
1NCE Funding, Investors & Competitors
1NCE has raised $110M across 2 funding rounds, most recently a $60M undisclosed-stage round in April 2025.
Last 1NCE funding round
$60M
Undisclosed stage · Apr 2025
Cumulative funding 1NCE raised
$110M
across 2 funding rounds
Key investors in 1NCE
SoftBank Group
Deutsche Telekom
I Squared Capital
Alexander P Sator
Kensington Capital Partners
Vicenda Group
About 1NCE
1NCE is a Hamburg-headquartered IoT connectivity provider offering lifetime flat-rate SIM cards for low-data devices. The platform manages global roaming across 160 countries, with dashboards for fleet monitoring and data analytics. Founded in 2017, it serves utilities and smart metering firms in Europe and the US.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription, Usage-based
1NCE Funding History
1NCE has raised a total of $110M across 2 funding rounds.
1NCE's first fundraising round was a $50M undisclosed-stage round in September 2021. The most recent completed round was a $60M undisclosed-stage round in April 2025.
1NCE funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Apr 2025 | Undisclosed stage | I Squared Capital; SoftBank Group; Kensington Capital Partners; Deutsche Telekom; Vicenda Group; Alexander P Sator | $60M | 1NCE is one of the fastest growing providers of IoT software and connectivity, operating the world's largest privately run IoT network in the cloud. The company provides connectivity solutions and Software as a Service (SaaS) platforms for IoT applications across dozens of industry verticals, with plans to launch next-generation platforms and AI-driven tools. On April 29, 2025, 1NCE closed a Series B funding round of $60 million USD, marking its largest funding round to date. Since 2017, the company has raised the equivalent of $160 million USD total across multiple rounds from investors including Deutsche Telekom, iSquared Capital, Kensington Capital Partners, SoftBank Corp., Vicenda Group, and founder Alexander P. Sator. The funding will support expansion of 1NCE's product portfolio, launch of its next-generation SaaS platform, development of new AI tools, continued global expansion, and growth of its U.S. presence. According to available data, 1NCE reported $1 million in revenue in 2021; however, revenue figures closer to the April 2025 round date are not disclosed in the sources. |
| Sep 2021 | Undisclosed stage | SoftBank Group; Deutsche Telekom | $50M | 1NCE is a German IoT network carrier founded in 2017 that offers cellular device connectivity at fixed prices across over 100 countries via 2G, 3G, 4G, 5G, NB-IoT, and LTE-M technologies. The company's cloud-based connectivity platform includes IoT services such as plug-and-play setup and device management. Its offering includes a flat-rate service with 500MB data volume and 250 SMS, making IoT applications such as tank maintenance, smart metering, and vehicle telematics more affordable for enterprise customers. On September 29, 2021, 1NCE announced a $50 million funding round co-led by Deutsche Telekom Strategic Investments and SoftBank Group, with participation from other investors. Deutsche Telekom had been a seed investor since the company's founding and also uses 1NCE technology for its own IoT offerings. At the time of the funding, 1NCE claimed to manage more than 10 million connections for over 7,000 business customers globally and employed 100+ staff across offices in Cologne, Hamburg, Amsterdam, London, Rome, Paris, Warsaw, and Riga. The fresh capital was allocated to accelerate international expansion, particularly in the US and Asia, further develop its cloud-based IoT platform services, and recruit key talent to expand product capabilities. The investment by SoftBank expanded on a strategic partnership formalized between SoftBank and Deutsche Telekom, creating an opportunity to co-invest in global connectivity platforms focused on enterprise customers. By the time of a subsequent funding round mentioned in later reports, 1NCE had raised $160 million in total since its founding in 2017, reflecting strong investor confidence in the company's market position and growth trajectory in the cellular IoT connectivity space. |
Who has invested in 1NCE?
6 investors have backed 1NCE across its funding rounds, including SoftBank Group, Deutsche Telekom, I Squared Capital, Alexander P Sator, Kensington Capital Partners and Vicenda Group.
1NCE Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Sep 2021 | ||
| 2 | Participant | Sep 2021 | ||
| 1 | Participant | Apr 2025 | ||
| 1 | Participant | Apr 2025 | ||
This data is available for Pro users. Sign up to see all 6 1NCE investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free Trial1NCE Competitors
1NCE competitors include listed companies like Datadog, MongoDB, Tempus AI and iFlytek, and private ones like Scale AI and Snorkel AI.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $2B | - | $29B | 14.5x | ||
| Private | $20M | - | $1.3B | 65.0x | ||
| Publicly listed | $3.4B | ($588K) | $85B | 19.4x | ||
| Publicly listed | $2.5B | ($104M) | $32B | 10.4x | ||
| Publicly listed | $1.3B | ($131M) | $15B | 10.1x | ||
| Publicly listed | $4B | $465M | $14B | 3.4x |
1NCE Public Comps
1NCE is still privately-owned, but its public comps include Oracle, Palantir, CrowdStrike, SAP, Salesforce, ServiceNow, Snowflake, Adobe, Johnson Controls and Datadog.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $67B | $33B | 8.6x | 7.8x | 17.7x | 13.9x | |||
| $4.5B | $1.5B | 92.6x | 58.1x | 285.0x | 97.4x | |||
| $4.8B | ($12M) | 51.4x | 44.5x | (19816.2x) | 151.0x | |||
| $42B | $13B | 5.8x | 5.4x | 18.4x | 17.1x | |||
| $42B | $13B | 5.5x | 5.2x | 17.8x | 12.2x | |||
| $13B | $2.6B | 11.1x | 9.6x | 57.2x | 25.0x | |||
| $4.7B | ($1.3B) | 25.6x | 21.0x | (94.1x) | 121.7x | |||
| $24B | $9.3B | 4.3x | 3.9x | 10.9x | 8.2x | |||
This data is available for Pro users. Sign up to see all 1NCE competitors and their valuation data. Start Free Trial | ||||||||
Common questions about 1NCE
| When was 1NCE founded? | 1NCE was founded in 2017. |
| Where is 1NCE headquartered? | 1NCE is headquartered in Germany. |
| Is 1NCE publicly listed? | No, 1NCE is a private, VC-backed company. |
| How much funding has 1NCE raised? | 1NCE has raised $110M across 2 funding rounds. |
| What was 1NCE's last funding round? | 1NCE's last funding round was a $60M undisclosed-stage round in April 2025. |
| Who are 1NCE's investors? | 1NCE's investors include SoftBank Group, Deutsche Telekom, I Squared Capital, Kensington Capital Partners, Vicenda Group and Alexander P Sator. |
| Which companies are comparable to 1NCE? | Companies comparable to 1NCE include Scale AI, Snorkel AI, Datadog, MongoDB, Tempus AI and iFlytek. |
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