Good afternoon, everyone.
Today is both National Cat Day — our whole editorial team could celebrate that, funnily enough — and it’s the official one-week-out mark from the 2024 U.S. presidential election. (To any of our readers with cats to care for and voting plans to finalize, we wish you the best in the days ahead.)
In the meantime, let’s talk about embedded SIM cards (eSIMs) and news announced earlier this morning by RiPSIM Technologies.
Demand for eSIMs (as noted by sources like Grand View Research) is on quite the historic climb; between now and 2030, the global eSIM market is expected to grow at a compound annual growth rate (CAGR) of 7.9%. This market growth seems to be driven largely by the increased adoption rate of IoT-connected devices, as well as an in-tandem upsurge in the number of eSIM profiles being downloaded across both consumer and industrial devices. By 2030, many experts (like those from Counterpoint Research) expect the total number of eSIM-enabled devices to reach 9 billion.
Suffice to say, this represents quite the opportunity to pounce on; the pressure to produce eSIMs rapidly and affordably (and secure them properly, of course) is hot.
Enter RiPSIM Technologies, its team comprised of industry veterans (each with decades of experience when it comes to wireless innovation), all of whom share a common goal: Create better, faster, and less expensive ways to resolve frustrating challenges in IoT. By working closely with wireless service providers, device OEMs and global SIM manufacturers, RiPSIM was able to a.) make a name for itself, and b.) create and patent its SaaS-based, cloud-native end-to-end eSIM management platform, i.e. its modernized “eSIM-as-a-Service” solution.
This, in short, leads us to the aforementioned news from the company:
RiPSIM Technologies announced a $5 million Seed Series funding round, led by the cybersecurity-focused team at Ten Eleven Ventures.
According to the official announcement, this investment “will fuel the expansion of RiPSIM’s novel eSIM-as-a-Service management platform,” enabling carriers and network operators to gain full custody and control over the entire credentialing process so they can “more securely authenticate subscribers and expand their businesses in new ways.”
“RiPSIM is legitimately transforming the creation and delivery of an overlooked aspect of digital identity authentication in our day-to-day lives,” stated Alex Doll, co-founder and managing partner of Ten Eleven Ventures, who will be joining RiPSIM’s board of directors. “eSIMs are the least understood part of the wireless network, requiring deep domain expertise to build and manage. As a cybersecurity specialist investment firm, we are extremely interested in innovative ways of expanding this critical security layer in an efficient, low-cost way. Even more exciting is imagining what new offerings just-in-time eSIMs will unleash for carriers and their customers as 5G network adoption, and its enabling architectural changes, simultaneously permeate the mobile ecosystem.”
Also joining RiPSIM’s board is Malte Pollmann, the former CEO of Utimaco, a global cybersecurity and compliance solutions and services provider, and a member of Ten Eleven Ventures’ Strategic Advisory Board.
Pollman commented, describing how “The current method for creating and delivering SIM cards and eSIMs is outdated, relying on old technology and largely labor-intensive processes. Currently, carriers and network operators wait up to months for the eSIMs they need to authenticate subscribers to their networks.”
“By modernizing and integrating the complete eSIM lifecycle management,” Pollman added, “RiPSIM’s patented cloud-based platform disrupts this legacy process. And by putting the creation of eSIMs in customers’ hands, RiPSIM is opening up new areas of product and market expansion for carriers, mobile network operators, and enterprises.”
And of course, RiPSIM’s co-founder and CEO Chris Jahr expressed his own enthusiasm.
“We’re so delighted to have the backing and confidence of Ten Eleven Ventures as we work to bring our game-changing solution to customers both large and small, wherever they are in the world,” Jahr said. “We’re delighted to have the backing and confidence of Ten Eleven Ventures as we work to bring our game-changing solution to customers both large and small, wherever they are in the world.”
Learn more eSIM developments at IoT Evolution Expo 2025, taking place from February 11-13, 2025, in Fort Lauderdale, Florida. Part of the #TECHSUPERSHOW experience, this event combines educational conference programming with a jam-packed exhibit hall, networking events and other activities, bringing together buyers and providers of business technology products and services that are huge for IoT.
Edited by
Greg Tavarez
