INM-backed Truphone pulled in $37.8m at a $517m valuation as it prepares to focus on developing its embeddable SIM technology.

Truphone, a UK-based telecommunications software provider that counts media company Independent News & Media (INM) as an investor, raised £30m ($37.8m) from unnamed existing backers yesterday at a $517m valuation. Founded in 2006, Truphone provides an international mobile network for business customers, having established its own global network infrastructure which now spreads across four continents.…

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