Telefonica invests in Monogoto for private IoT totaltele.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from totaltele.com Daily Mail and Mail on Sunday newspapers.
Today, Monogoto, innovator, and developer of a secure, global cloud-based cellular network platform, announced they have closed a round including venture capital and strategic investment. The $11M in funding was led by Team8, with participation from Telefonica Tech Ventures and Singtel Innov8, as well as Alter Venture Partners, Triventures, and Planven Entrepreneur Ventures.
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Pegasus Tech Ventures is acquiring Garage Technology Ventures, a firm with a dot-com era pedigree. Such acquisitions are rare.
Pegasus is backed by many Asian corporations such as Asus and has invested in Coinbase and DoorDash.
Pegasus CEO Anis Uzzaman told Insider this deal will boost its Silicon Valley deal-sourcing prowess.
For the past 10 years, Pegasus Tech Ventures has connected Asian corporations with a roster of high-flying startups such as Coinbase, DoorDash, and Bird. Now the venture firm with $1.5 billion in assets is seeking to spread its wings in Silicon Valley further, by buying a firm with internet-pioneer cred.