Mobile disrupter Truphone raises a further £255mn to fund IoT expansion

By Johan De Mulder

Truphone is targeting 'aggressive expansion' into IoT after raising £255mn in funding.

Russian oil billionaire Roman Abramovich is among the investors backing the United Kingdom-based mobile operator, which claims to be the world's only truly global provider.

Truphone works with a current clientbase of 3,500 corporate customers to provide mobile usage in any country without incurring roaming costs. 

Last year, it signed a deal with Apple to provide e-SIM services to iPad customers who want to connect to different networks in different countries without a normal SIM card.

See also: 

Its vision, as a self-proclaimed 'disruptive enabler in the IoT ecosystem', is to see connectivity capability build into devices at the manufacturing stage.

"I see this latest investment as a significant vote of confidence from our investors in our growth strategy, and our ambition to continue scaling the business globally," said Truphone CEO Ralph Steffens.

"It is an important step in achieving our long-term goal to power billions of connected devices around the world. Truphone continues to be the driving force reshaping the global mobile industry."

Part of the funding has also been used to pay off debts Truphone has accumulated since its startup launch in 2006.


Featured Articles

Middle East GDP hike of 57% if more women join workforce

By tapping into the potential of next-generation female workers, the MENA region could unlock new economic opportunities, up to US$2 trillion, reports PwC

Dialight supplies LED solutions for industrial safety

Reliance on inefficient lighting technologies are not only harmful to the environment, but also increase injury risk and cost

Top 10: Tech, AI, cloud, cyber speakers at TECH LIVE LONDON

TECH LIVE LONDON events sees technology leaders from IBM, Oracle, Vodafone, JP Morgan, Accenture and the US Space Force among the inspirational speakers

Cyber LIVE adds Vodafone head of cyber Kawalec to line-up

Leadership & Strategy

Musk’s multibillion hostile Twitter takeover – the timeline

Leadership & Strategy

Sustainable moves businesses can make to win customers, IBM