eSIM operator Truphone snags cash to boost growth - Mobile World Live

eSIM operator Truphone snags cash to boost growth

16 OCT 2018

UK-based service provider Truphone received a fresh infusion of £54 million to scale its eSIM offerings for smartphones and Internet of Things (IoT) devices, after securing a high-profile deal with Apple in September.

The cash haul includes £18 million in unconditional funding to speed delivery of its products and an additional £36 million of conditional funding, the terms of which were not disclosed.

Truphone notably teamed up with Apple in 2017 to incorporate its eSIM technology on the vendor’s iPads. Last month, it extended the deal to offer eSIM data plans for Apple’s refreshed iPhone line up, making it one of a handful of providers to offer plans for the device’s digital eSIM.

In September, the company also inked an agreement with chip company Synopsys to use Truphone’s eSIM software in its tRoot IoT module, and licensed its remote eSIM provisioning platform to SIM manufacturer Workz Group.

The funding builds on the £255 million Truphone raised from existing shareholders in October 2017 to clear debt and fund a push into IoT devices.

The company was awarded GSMA accreditation for its eSIM subscription management solution in May, and in June released to open source an implementation of the eSIM Local Profile Assistant function to enable the technology for Android devices.

ABI Research recently tipped the market for eSIM-equipped smartphones to reach 420 million units annually by 2022.



Diana Goovaerts

Diana is Mobile World Live's US Editor, reporting on infrastructure and spectrum rollouts, regulatory issues, and other carrier news from the US market. Diana came to GSMA from her former role as Editor of Wireless Week and CED Magazine, digital-only...

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