Speedinvest Blog

Ubiquitous Connectivity as a Service: Our Investment in Gigs

September 21, 2022

The user experience for accessing connectivity is broken. Approximately 94 percent of the world’s population is covered by a mobile broadband network and theoretically has access to mobile internet. Connectivity, for all intents and purposes, should be a commodity, the same way digital payments are. 

Yet, and despite the rapid proliferation of e-SIM devices, anyone who has ever bought a wearable or traveled abroad with their device knows just how complicated and broken simply “taking a device online” is. Unlike in the payment space, where merchant services are ubiquitous and there’s a clear and well-served infrastructure for merchants of all sizes, device makers and companies managing devices currently have no connectivity layer that is easy to integrate, let alone API-first. 

Gigs brings global coverage to any device

In its simplest form, when you buy a device and take it online, it pings the nearest cell tower for permission to use the network. If permission is granted, the device can go online. In practice, however, it’s usually more complicated than that. To even get that permission, purchasers of devices currently need to contact the telcos directly. The user journey is broken, payments are processed separately, and crucially, the device manufacturer doesn’t benefit from supplying the device on which the connectivity is enabled. 

Gigs solves all of this. If a device manufacturer integrates Gigs, it does all the heavy lifting in the background and allows platforms to offer the easiest setup for their customers. Those customers can then access their phone plan where they’d expect to––either inside the platform's own app via Gigs API or alternatively in a fully no-code customizable white label solution. 

As a device maker you also benefit from rapid time to market, increased conversion through a seamless customer journey, and increased subscription revenues. It’s rare to see such a clear win-win-win for everyone involved.

The team led by Dennis and Hermann have been moving at lightning speed to offer data and voice connectivity around the globe––and at incredibly competitive prices. Our Saas & Infra team are beyond excited to double down on this team for the third time in a row and to welcome Gradient Ventures alongside phenomenal angel investors. Upwards and onwards!

TechCrunch has more on Gigs' $20M Series A round and their vision for the future.

From The Blog

Investment Terminology For Beginners: What Founders Need To Know

Speedinvest's Tara Schoeller-Burke and Nora Frizberg break down the investment terminology founders need to know as the fundraise and prepare to sign term sheets.

Strengths and Challenges for the European Startup Ecosystem: An Interview with NEA

Speedinvest's Andreas Schwarzenbrunner chats with Philip Chopin, Managing Director of NEA, UK, about his thoughts on the strengths and challenges of the European startup ecosystem.

What These 3 Investors Want From A Founding Management Team

Speedinvest's Andreas Schwarzenbrunner speaks with Andrea Helbig, Partner at Atomico, Rebecka Löthman, Director at Inventures, and Katharina Wilhelm, Partner at Index Venture, about what they look for in a startup's founding management team.