UK-based eSIM and IoT technology provider Truphone announced that it has raised a further GBP 18 million in unconditional funding through a successful rights issue valuing the company at GBP 386 million. In a statement it added that a further GBP 36 million has been secured based on the same valuation on a conditional basis. The company said it will use the new funds to deliver its technology to customers at a faster rate, after signing a number of high-value deals.
Truphone's remote SIM provisioning platform received GSMA accreditation earlier this year, allowing it to launch its own embedded SIM (eSIM) to market. The company said its remote SIM provisioning platform enables mobile operators, OEMs and chip/SIM manufacturers to roll out support for eSIM enabled devices by providing a complete "as-a-service" solution. Partners include Synopsys, Workz Group and Apple, which chose Truphone to offer data, voice and text plans on the iPad and iPhone digital eSIM covering around 80 countries.
