MAVOCO, a Vienna-based IoT Connectivity Management Software company has successfully closed its Series-A+ funding round by raising €11 million in equity from both existing shareholders and new investors. The funding round was led by 3TS Capital Partners, red-stars.com and other strategic investors. This new investment marks an important step for the company as it works to grow its presence in the global telecom sector. It also shows that investors believe in MAVOCO’s fresh approach to managing connectivity and its ability to replace older systems in a cost-effective way.
The company’s main product, the Connectivity Management Platform (CMP) was launched in 2021 and is now used widely in regions like Southeast Asia and the Middle East. MAVOCO’s technology is both simple and adaptable, helping telecom providers handle issues that arise from outdated systems. It offers an affordable alternative to well-known competitors by using open standards, which remove the problem of vendor lock-in. This design makes it easier for telecom operators and businesses to work together, setting MAVOCO apart as a strong competitor in the telecom market.
In 2024, MAVOCO won important contracts with mobile network operators in Europe, which has further strengthened its position in the telecom industry. These new deals are expected to boost the use of its CMP with several projects planned to start soon. At a time when many tech companies find it difficult to secure funding, this achievement highlights MAVOCO’s dedication to innovation and its clear plans for global growth. The company’s steady progress shows that it is focused on improving and expanding its services in a competitive market.
Looking to the future, MAVOCO will use the funds to further develop its next-generation CMP. The company plans to continue using open standards to promote interoperability, allowing telecom providers and businesses to work together easily across borders. Phat Huynh, CEO of MAVOCO, explained that it has become harder for tech companies to secure funding recently. He mentioned that the consistent support from investors is very important and shows the team's strong performance. Huynh also pointed out that this investor backing confirms their goal of making global IoT deployments simpler and faster. This move is expected to further strengthen MAVOCO’s role as a leader in connectivity management.
