8 years ago

Truphone Raises $339 Million to Repay Debt and Expand into IoT

  • Truphone, a mobile company based in London, has raised $339 million in a rights issue led by Minden and Vollin Holdings, two investment firms with ties to Roman Abramovich

  • The company plans to use the funds to retire its debt and double down on providing data connectivity for connected devices beyond mobile phones

  • Truphone has been expanding its business into IoT and recently announced a strategic acquisition in the space

  • The company is also working with carmakers to provide connectivity solutions

  • Truphone's original business of offering low-cost international voice and data plans was based on software that patched together capacity from multiple carriers across multiple countries

  • This technology is now being applied to provide connectivity for IoT devices

  • The company believes that its focus on IoT will be a major growth driver in the future.

      • ProblemTechnology Infrastructure

      "Connecting IoT devices to the internet is a growing challenge, with limited options for reliable, affordable, and secure connectivity. Existing solutions are often expensive, inflexible, and lack global coverage."

      Solution

      "Truphone offers a global IoT connectivity platform that provides affordable and secure data connectivity for a wide range of connected devices, including vehicles, smart home appliances, and industrial equipment. It leverages its existing mobile network infrastructure and software expertise to offer a seamless and cost-effective solution."

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