Aspirity to buy majority stake in Danish IoT company Onomondo

London-based private equity firm Aspirity Partners has agreed to buy a majority stake in Onomondo, a Copenhagen firm that runs its own network to connect machines and sensors. The deal, announced on Wednesday, is part of a combined investment of more than €100m.

EIFO, Denmark’s state investment fund, is also adding to its stake. It has backed Onomondo since 2021. The deal still needs regulatory approval and should close in the first three months of 2027.

Onomondo is the first Nordic investment for Aspirity, which focuses on European tech services and fintech. The firm closed its first fund at more than €875m last year.

Onomondo operates in the Internet of Things (IoT) market, which includes connected devices such as trackers and sensors in factories. It has direct access to nearly 700 mobile networks, and its customers in more than 100 countries include Maersk, Carlsberg, and Husqvarna.

Its products include SoftSIM, a SIM card that runs entirely as software, and a system that lets devices switch between private and public networks. With Maersk, it built a private LTE network across more than 450 ships, which Onomondo describes as the largest of its kind at sea.

The new investment will fund growth abroad, more network equipment, and new products, the company said. More than 500 businesses currently use its technology.

“The next challenge is creating the right data and getting it to the right place. That is an infrastructure problem, and it is the problem we have spent eight years solving,” said Henrik Aagaard, Onomondo’s co-founder and chief technology officer.

Rasmus Jensen, who became chief executive in 2025, said most rivals sell a basic link to the network and leave customers to deal with the hard parts. Onomondo instead built a single platform that links the device, the network, and the cloud, he said.

For Maersk, that has meant tracking cargo during a voyage rather than only at fixed points along the route.

“Seeing issues earlier means customers can take action sooner, which is increasingly important when moving high-value and time-sensitive goods,” said Sonny Wilkens Dahl, Maersk’s global head of ocean operations.