Onomondo ApS

Denmark · owned by Independent (Denmark) · onomondo.com · 45 vendors

Onomondo is a Danish IoT connectivity platform provider that offers global IoT SIM cards, eSIMs, and SoftSIMs enabling product teams to connect and manage device fleets worldwide. The platform provides full API control, SIM management, network-level security, and cloud integrations for industries such as asset tracking, telematics, smart metering, and logistics. Onomondo operates its own connectivity infrastructure, giving customers data transparency and freedom from third-party dependencies.

Resilience scores

Technology vendors

Insights

Last updated 2026-09-15 · revision 19

45 direct vendors, 416 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Migration Readiness: 7/10

Assessed by AI based on technology stack characteristics (cloud-native vs legacy, containerization, microservices), regulatory environment, data residency requirements, financial stability, and vendor lock-in risks. The score ranges from 0-10, where higher scores indicate better readiness for technology migration.

Onomondo ApS exhibits a high level of migration readiness, scoring 70 out of 100. This is largely due to its modern, cloud-native technical foundation and API-first approach. The company operates a 'Cloud-Native Core Network Architecture' and explicitly integrates with major cloud platforms like AWS and Microsoft Azure, offering 'no-code IoT cloud integration tools' and REST APIs/Webhooks. This architecture is highly conducive to flexible deployment, interoperability, and potential migration efforts, implying a microservices-oriented and containerized environment. The use of open-source components, such as the UICC/USIM library on GitHub, further indicates a flexible and adaptable tech stack. Onomondo's strong financial growth provides the necessary resources to fund and execute complex migration initiatives. The company's engagement with 72 services from vendors across 13 unique countries suggests a mature capability in integrating and managing diverse external systems, which is beneficial for internal migration projects. However, several factors prevent a higher score. The 'Vendor Lock-in Risk' is explicitly 'Unknown,' which is a critical determinant for migration readiness; significant lock-in could severely impede migration efforts. While the tech stack is modern, migrating a core telecommunications infrastructure (as an MVNO) is inherently complex due to stringent regulatory requirements, including the 'High' risk associated with the EU Electronic Communications Code (EECC) and NIS2. These regulations impose specific obligations (e.g., lawful interception, emergency services) that add considerable complexity and cost to any core system migration. Data residency requirements, particularly the commitment to EEA data residency and the use of AWS (with specific regions not publicly confirmed), could also introduce constraints depending on the target migration environment. The absence of SOC 2 and ISAE 3000/3402 reports, while not directly a technical migration blocker, indicates a potential gap in third-party assurance that might be required by partners or customers during a migration involving sensitive data.

Compliance

7 in-scope frameworks identified; showing 3.

GDPR (source) — Partially Compliant

Onomondo ApS is established in Denmark, an EU member state, and processes personal data of employees, customers, and suppliers, making GDPR directly applicable.

As a Denmark-based company processing customer and employee data, non-compliance with GDPR could lead to significant fines and reputational damage. The risk is high due to the volume of data inherent in their IoT connectivity services.

Evidence: https://onomondo.com/blog/introducing-onomondo-softsim/, https://onomondo.com/product/softsim-for-simcom/, https://onomondo.com/iot-regions/?topic-category=sims&content-type=case-story

NIS2 (source) — Partially Compliant

Onomondo operates as a Mobile Virtual Network Operator (MVNO) with its own core network, classifying it as 'digital infrastructure' and an 'Essential Entity' under NIS2. The company's size and revenue also meet the directive's thresholds.

As a provider of digital infrastructure for critical sectors, a security incident could have widespread consequences. Non-compliance with NIS2 could result in substantial fines and operational disruptions for Onomondo and its customers.

Evidence: https://onomondo.com/partner/embdes/, https://onomondo.com/, https://onomondo.com/product-update/release-notes-deprecating-connector-integrations/, https://onomondo.com/blog/onomondo-and-syniverse-break-legacy-barriers-to-simplify-iot-connectivity/, https://onomondo.com/connectivity-management-platform/sim-management/, https://response.nordicsemi.com/partner-program-onomondo

Danish Telecommunications Act — Assessment Required

As a telecommunications provider with its own core network, operating as an MNO and MVNO based in Denmark, Onomondo is directly subject to the Danish Telecommunications Act.

Non-compliance with national telecommunications laws can lead to severe penalties, including fines and the potential revocation of their license to operate, which would be catastrophic for the business.

Evidence: https://onomondo.com/blog/iot-eco-friendly-softsim/, https://pitchbook.com/profiles/company/92177-56, https://www.milivolt.news/post/onomondo-aps, https://growjo.com/company/Onomondo, https://onomondo.com/blog/introducing-onomondo-softsim/, https://onomondo.com/about-us/

Financials

Three-year financials

Financial Resilience Score: 6/10

Onomondo shows a strongly improving financial trajectory, with gross profit scaling nearly 9x from DKK 6.6M in FY2023 to DKK 56.7M in FY2025 while headcount grew only modestly from 72 to 81. Operating losses narrowed by approximately 73% over the same period (from DKK -42.4M to DKK -11.5M), demonstrating strong operating leverage from its subscription-based IoT connectivity model. The company benefits from a blue-chip customer base including Bosch, Carlsberg, MAN Energy Solutions and Maersk, providing revenue quality and recurring subscription income. However, the company remains loss-making and equity-consumptive. Equity has fallen from DKK 148M in 2022 to DKK 68.6M in 2025, reflecting cumulative losses eroding the DKK 150M Series A raised in 2022. At the current burn rate, an additional funding round would likely be needed within 5-6 years absent profitability. Reputable institutional backers (Verdane, Maersk Growth, Danish Growth Fund) provide funding credibility, and differentiated technology (SoftSIM, unified 600+ carrier network across 180+ countries) supports the growth thesis. Overall, resilience is moderate: strong momentum and investor backing offset by ongoing losses and limited financial transparency as a Danish ApS class B filer.

Key strengths: Gross profit scaled ~9x in two years (DKK 6.6M to DKK 56.7M), Operating losses narrowed 73% from FY2023 to FY2025, Strong operating leverage: headcount grew only from 72 to 81 while gross profit rose 9x, Blue-chip customer base: Bosch, Carlsberg, MAN Energy Solutions, Maersk, Recurring subscription revenue model with pricing from EUR 0.003/MB, DKK 150M Series A (2022) from Verdane, Maersk Growth, People Ventures, Danish Growth Fund, Differentiated cloud-native tech: 600+ carriers, 180+ countries, SoftSIM innovation, Total funding of $31.5M across 9 rounds

Risk factors: Still loss-making with net loss of DKK -12.4M in FY2025, Equity eroded from DKK 148M (2022) to DKK 68.6M (2025), Additional funding round likely needed within 5-6 years if profitability not reached, CEO transition risk: co-founder Michael Karlsen stepped back in early 2025, Competitive intensity from Airalo, Kolet, Nomad, Roamless, Revenue not disclosed (Danish ApS reporting class B), reducing transparency, 2022 hiring plan (50 to 100 by end-2022) missed, only crossed 80 in 2024

Workforce by country

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