Monimoto EU (MM1) supports European GSM bands and works on 2G network only. Monimoto Global (MM2) has 2G/3G capabilities and can work with any global carrier. There are more 3G cellular towers available throughout the world than 2G, therefore Monimoto Global (MM2) has better coverage and better location precision indoors and in the cases of no GPS signal.
In other words, Monimoto Global (MM2) works in most countries of the world while Monimoto EU version (MM1) works in European Union plus several other countries. See list of MM1 supported countries here and more details on MM2 here.