EMnify, a cloud-based platform for cellular connectivity in the Internet of Things (IoT) stack, announced on Thursday that it has raised $57M (approx €50M) in a Series B round of funding from London-based growth investor One Peak. To date, EMnify has raised €70M in equity capital.
Fund utilisation
The Berlin-based company says it will use the funds to accelerate its product development and global market expansion, particularly in the US. The company also plans to expand its leadership team and double its headcount in 2022 in the DACH region and North America.