Aspirity Partners Acquired Majority Stake in Onomondo
The private equity firm led an investment exceeding €100 million to expand the Danish IoT network provider's global reach.
Updated on Sept. 30, 2026 in Telecommunications
Live Poll
Do you believe foreign private equity investment in local technology companies helps the national economy?
Aspirity Partners has agreed to acquire a majority stake in Copenhagen-based IoT network company Onomondo. Denmark's state investment fund, EIFO, is also increasing its existing stake in the business as part of a total combined investment exceeding €100 million.
Why it matters
The capital infusion is intended to accelerate international growth and fund the development of new network equipment and product iterations. The investment supports the expansion of an IoT infrastructure that currently serves over 500 businesses across 100 countries.
Onomondo provides access to nearly 700 mobile networks worldwide to support IoT device connectivity. The firm supports this infrastructure through a software-based SIM card known as SoftSIM.
The players
Aspirity Partners
A London-based private equity firm that closed its first investment fund at over €875 million last year.
Onomondo
A Copenhagen-based IoT network company that provides a software-based SIM platform used by 500 businesses.
EIFO
Denmark's state investment fund that has maintained a stake in Onomondo since 2021.
Rasmus Jensen
The chief executive of Onomondo who took the role in 2025.
The details
Onomondo operates a platform designed to bridge the gap between individual hardware devices, cellular networks, and cloud computing environments. The company's SoftSIM technology replaces traditional physical subscriber identity modules, allowing for remote provisioning and management of cellular network access. This software-defined approach is managed through a centralized platform that facilitates communication across the company's network of nearly 700 mobile carriers.
Timeline
2021: EIFO began backing Onomondo.
2025: Rasmus Jensen became chief executive.
September 2026: The deal was announced.
Q1 2027: The acquisition is expected to close.
The Tech Race
The investment by EIFO into Onomondo follows the pattern of state-backed capital injections common to the European Investment Fund's venture capital support programs. This funding places Onomondo in a stronger position to compete against traditional, hardware-dependent cellular IoT providers.
Existing corporate clients of Onomondo will see the expansion of network equipment and services through 2027. The deal is expected to finalize in the first three months of 2027, at which point the company intends to begin its planned product development cycle.
The takeaway
The acquisition highlights the move toward software-defined network management in the IoT sector. Industry participants should track the company's product rollout in Q1 2027 to see how the new capital influences their global network interoperability benchmarks.
Further reading
For broader trends in global connectivity infrastructure, see our Telecommunications section.
Live Poll
Do you believe foreign private equity investment in local technology companies helps the national economy?
