Monogoto raises money

Monogoto Inc., a startup specializing in software-defined connectivity for IoT devices, has raised $27 million in a Series A funding round led by Toyota Ventures, bringing its total funding to $38 million. The company offers a platform that simplifies and secures connectivity across 550 public and private LTE/5G and satellite networks in over 180 countries, catering to diverse industries from automotive to smart cities. With its application programming interface-driven approach, Monogoto aims to enhance global expansion and hire key personnel to bolster its market presence. CEO Itamar Kunik emphasized the need for agile and scalable connectivity solutions to address the unique requirements of modern devices, like drones and electric vehicles. The funding round also saw participation from notable investors including Samsung Next and Telefónica, highlighting the growing demand for automated connectivity solutions. Monogoto's infrastructure is designed to facilitate seamless transitions between different networks, addressing the complexities faced by enterprises in managing connectivity.