Danish IoT connectivity company Onomondo is set to receive more than €100m in combined investment from private equity firm Aspirity Partners and Denmark’s EIFO as it expands its global infrastructure.
Aspirity has agreed to acquire a majority stake in Copenhagen-based Onomondo, while EIFO, which has backed the company since 2021, will increase its investment. The transaction is subject to regulatory approval and is expected to close in the first quarter of 2027.
Onomondo operates a software-defined core network with direct access to nearly 700 mobile networks across more than 180 countries. It provides connectivity and network management for connected devices, with customers including Maersk, Carlsberg and Husqvarna.
The company said the new investment will be used to expand internationally and increase deployment of its proprietary infrastructure, spanning devices, radio access networks and cloud systems.
The deal comes as industrial companies increasingly seek to connect assets across multiple countries and network environments, from vehicles and factories to ships and remote infrastructure.
Onomondo has developed technologies including SoftSIM and a hybrid public-private networking capability. Its work with Maersk includes a private LTE network covering more than 450 vessels, allowing ships to switch between onboard private connectivity and public mobile networks.
“AI has changed that. The next challenge is creating the right data and getting it to the right place. That is an infrastructure problem, and it is the problem we have spent eight years solving,” said Henrik Aagaard, CTO and Co-Founder of Onomondo. “Our network gives customers a consistent way to connect devices, create data and build intelligence into the physical world.”
Onomondo said more than 500 customers currently use its technology across more than 100 countries. Maersk has used the company’s connectivity to collect near real-time data from cargo while vessels are at sea.
“Reliable connectivity at sea gives customers the visibility they need to manage risk across global supply chains,” said Sonny Wilkens Dahl, Maersk’s Senior Vice-President and Global Head of Ocean Operations. “Seeing issues earlier means customers can take action sooner, which is increasingly important when moving high-value and time-sensitive goods.”
For Aspirity, the investment is its first in the Nordic region and forms part of its strategy of backing technology-enabled businesses operating in markets it expects to benefit from long-term growth.
Ralph Choufani, Co-Founder and Partner at Aspirity, said the shift towards physical AI would increase demand for infrastructure capable of managing distributed devices and data. “As the physical AI revolution accelerates, managing billions of distributed devices requires intelligence at the network level, deep observability, and absolute control from the Cloud to the Edge,” he said.
Onomondo Chief Executive Rasmus Jensen said the company had taken a different approach from traditional connectivity providers by building infrastructure intended to link devices, networks and Cloud systems through a single platform.
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