- Miami-based I Squared Capital is an independent global infrastructure investment manager focusing on utilities, digital infrastructure, energy, transport and social infrastructure
- Other 1NCE investors include SoftBank and Deutsche Telekom
- 1NCE will use the funds to expand globally, hire top talent, and build the next level software to manage millions of deployed IoT sensors across the world
I Squared Capital, a Miami-based independent global infrastructure investment manager, today announced an investment in 1NCE, a provider of connectivity and software for the Internet of Things (IoT) at a global flat rate. The investment is through I Squared Capital’s Global InfraTech Fund, which targets innovative growth-stage companies applying transformative technologies, like IoT, to key sectors, including transportation and logistics, the energy transition, and digital infrastructure.
1NCE previously announced investments from SoftBank and Deutsche Telekom, among others. The company’s mission is to deliver global IoT services that allow customers to deploy, connect, and manage IoT sensors across the world for as little as $10 for 10 years.
“1NCE has the in-house technology and key industry partnerships necessary to become an IoT powerhouse. We see strong growth potential for IoT companies, like 1NCE, that enable clients to meet their long-term global strategies in building successful IoT networks,” said Kevin Crull, Managing Director and Global InfraTech Fund Partner at I Squared Capital. “We’re excited to work with Alex Sator, Ivo Rook, and the rest of the rapidly-growing 1NCE team on their next stage of development.”
In addition to the recently announced opening of its new North American headquarters in Miami, 1NCE is targeting the expansion of its footprint to more than 140 countries in 2022 (up from 104 today) and increasing the number of Tier-1 wireless operators in its global network by 25 percent. The company’s next phase of product expansion centers on intelligent software connectivity and over-the-top (OTT) services that enable customers to develop and manage IoT solutions on the 1NCE platform.
“1NCE and I Squared have an excellent partnership based on our joint ambition to reshape the future of digital infrastructure,” said Alexander P. Sator, Chief Executive Officer at 1NCE. We are going to do great things together in 2022 as we expand our global footprint and increase our ability to solve the problems that have kept the Internet of Things from living up to the hype.”
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