Madrid, June 9, 2021.- TelefÃ³nica Tech Ventures , TelefÃ³nica’s investment vehicle in cybersecurity, cloud and IoT / Big Data startups, participated in a seed investment round in Monogoto , an Israeli company specializing in the management of secure private LTE / 5G networks.
Founded in 2018, Monogoto has developed a IoT (Internet of Things) connectivity cloud platform under the IaaS model with operations in more than 180 countries and compatible with the networks of more than 550 mobile operators that allows the management and control of a global network device.
It is an apified technology with which customers can easily develop and integrate their own connectivity applications with particular emphasis on the area of ââprivate networks. This enables the launch of many new use cases and simplifies the end-user experience.
These use cases will help increase the digital transformation of businesses, focusing on Industry 4.0 environments, healthcare centers and the provision of public services ( utilities ) in the short and medium term. Market estimates indicate growth of over 25% per year from 2022 in the case of VPNs, leveraging the adoption of 5G.
âThe technological proposal developed by Monogoto will be essential to deepen our value proposition in the deployment of LTE / 5G private networks around the world. It will enable solutions more suited to the needs of a global market that take advantage of the capabilities offered by 5G and advanced computing for digital transformation, âsaid Gonzalo MartÃn-Villa, CEO of TelefÃ³nica Tech AI of Things.
Thanks to the investment, Telefonica Tech will have a representative on Monogoto’s advisory board, as well as preferential access to its technology and a test environment that will strengthen TelefÃ³nica’s value proposition in the area of ââvirtual private networks in the face of possible commercial agreements in the future.
âWe are very fortunate to be recognized as a pioneer in cloud-based IoT connectivity and LTE / 5G private networks. Having TelefÃ³nica among our investors represents a great boost, confidence in our products and a great vision for the company for the future, âsaid Itamar Kunik, CEO of Monogoto.
“We are very satisfied with the integration into the TelefÃ³nica Tech Ventures family of Monogoto, one of the most promising and global Israeli startups and the first in the field of IoT to join our investment portfolio”, Guenia Gawendo , director of TelefÃ³nica Tech Ventures.
With this investment, TelefÃ³nica Tech Ventures extends its investment strategy to the field of IoT and cloud after a first phase focused on cybersecurity with investments in Nozomi and Smart Protection.