Velos IoT Company Profile

Background

Velos IoT is a global leader in Internet of Things (IoT) connectivity solutions, offering secure, scalable, and sustainable connectivity services worldwide. The company was established in September 2022 through the merger of Jersey-based JT IoT, Estonia's Top Connect, and Denmark's NextM2M, creating a unified entity that manages over 12 million cellular devices globally. With a heritage dating back to 2014, Velos IoT has built a reputation as a fast-growing and leading supplier of global IoT connectivity.

Key Strategic Focus

Velos IoT's strategic focus centers on providing comprehensive IoT connectivity solutions that address the evolving needs of enterprises and Original Equipment Manufacturers (OEMs). The company's core objectives include:

Global Coverage: Offering connectivity across more than 700 networks in over 200 countries and territories, ensuring extensive reach for IoT deployments.

Security and Scalability: Delivering secure and scalable IoT connectivity solutions that enable businesses to build and manage mission-critical devices.

Innovative Technologies: Utilizing advanced technologies such as eSIM and LPWA (Low Power Wide Area) networks to provide efficient and future-proof connectivity options.

Industry-Specific Solutions: Tailoring IoT connectivity solutions to various industries, including transport and logistics, retail and warehousing, utilities, energy and environment, OEM/manufacturing, agriculture, and asset management/telematics.

Financials and Funding

Velos IoT's financial growth has been bolstered by strategic investments and acquisitions:

Acquisitions: In 2021, Velos IoT was acquired by Perwyn, a European private equity investor, facilitating the expansion of its product portfolio and customer base.

Strategic Partnerships: In February 2025, Velos IoT partnered with IDEMIA Secure Transactions to enhance global IoT connectivity through advanced embedded SIM technology, integrating IDEMIA’s eSIM and Subscription Management solution into Velos IoT’s ULTIMATeSIM.

Pipeline Development

Velos IoT has developed several key solutions to enhance IoT connectivity:

ULTIMATeSIM: A smart eSIM with multi-carrier capabilities designed to ensure industry-leading coverage and reliability.

Connect LPWA: A Low Power Wide Area Network solution offering comprehensive coverage for both NB-IoT and LTE-M networks, facilitating efficient and future-proof device deployments.

Nomad Connectivity Management Platform: A platform that centralizes SIM and eSIM estate management, simplifying provisioning, monitoring, and billing for over 30 million connected endpoints.

Technological Platform and Innovation

Velos IoT distinguishes itself through several technological innovations:

ULTIMATeSIM: An advanced eSIM solution that provides multi-carrier capabilities, ensuring extensive coverage and reliability for IoT devices.

Connect LPWA: A market-leading Low Power Wide Area Network solution that offers extensive coverage for NB-IoT and LTE-M networks, supporting efficient and scalable IoT deployments.

Nomad Connectivity Management Platform: A comprehensive platform that simplifies the management of SIM and eSIM estates, enabling businesses to efficiently provision, monitor, and bill for connected devices.

Leadership Team

Velos IoT's leadership team comprises experienced professionals dedicated to driving the company's strategic vision:

Colin Chew: Chief Executive Officer (CEO)

Professional Background: A seasoned leader in the wireless IoT sector, with a proven track record in driving top-line revenue growth.

Key Contributions: Under his leadership, Velos IoT has achieved significant milestones, including the integration of advanced eSIM technology and the expansion of global connectivity solutions.

Competitor Profile

Velos IoT operates in a competitive landscape with several key players:

Tumsas: A provider of technological solutions.

Vegam Solutions: Offers manufacturing transformation and technology solutions.

Byteworks Technology Solutions: An IT company specializing in application software development services.

EVRY: Provides information technology solutions.

Strategic Collaborations and Partnerships

Velos IoT has established significant collaborations to enhance its market position:

IDEMIA Secure Transactions: In February 2025, Velos IoT partnered with IDEMIA to integrate advanced eSIM and Subscription Management solutions into its offerings, enhancing global IoT connectivity and security.

Operational Insights

Velos IoT's strategic considerations include:

Global Network Expansion: Leveraging partnerships to expand its network coverage and enhance service reliability.

Security Enhancements: Integrating advanced security measures to protect IoT deployments from cyber threats.

Scalability: Developing solutions that support the growing demands of global IoT connectivity.

Strategic Opportunities and Future Directions

Velos IoT is well-positioned to capitalize on several strategic opportunities:

Industry Recognition: The company's Nomad Connectivity Management Platform was recognized as an "Up-Starter" in Counterpoint Research’s 2025 Global IoT Connectivity Management Platform rankings, highlighting its innovative approach to IoT connectivity management.

Market Expansion: Continued expansion into new markets and industries, leveraging its comprehensive connectivity solutions to meet diverse customer needs.

Technological Advancements: Ongoing development of advanced technologies, such as eSIM and LPWA networks, to provide future-proof connectivity solutions.