Vienna-based software developer MAVOCO AG has announced a successful closing of its Series A+ financing round, securing a total of €11 million. MAVOCO made the announcement on its website.
About MAVOCO
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MAVOCO AG is a software specialist providing connectivity management solutions for the global telecom sector with offices in Vienna, Eisenstadt, Klagenfurt, Warsaw, and remote teams across Europe.
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Its Connectivity Management Platform (CMP), launched in 2021 with a focus on Internet of Things use cases, has been successfully deployed for tier-1 network operators across Southeast Asia and the Middle East, with major European network operators set to go live in 2025.
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MAVOCO CMP is designed to enable cooperation between network operators and enterprise customers across countries and networks, simplifying global and regional IoT projects.
Investment details
The investment round was led by 3TS Capital Partners, a European technology-focused €11 million growth capital fund based in Helsinki and Vienna. The round was also joined by red-stars.com and additional undisclosed investors.
“Securing funding for tech scale-ups has been increasingly challenging in recent years, making our investors' strong and continued commitment even more significant and meaningful. It reflects the remarkable achievements of our team and validates our mission to simplify and accelerate global IoT deployments," says Phat Huynh, CEO of MAVOCO.
The fresh funding will be used to further develop MAVOCO's next-generation IoT Connectivity Management Platform (CMP) for the global telecom sector.
