New Delhi, July 27 – Homegrown tech startup Wiom centered on democratising web entry in India on Thursday introduced that it has raised Rs 140 crore in Sequence A spherical.
The Sequence A spherical was led by RTP International whereas YourNest and Omidyar Community India, an funding agency centered on impression, additionally participated, together with International Mind, Blume Founders Fund, Alteria Capital, Stride Ventures, Stride One and 9 Unicorns.
The corporate mentioned that it’ll now concentrate on increasing its footprint to cities all through India whereas investing in high-quality expertise and distributed supply structure.
“Utilizing leading edge technological disruptions, Wiom paves the way in which for a future the place connectivity is aware of no boundaries, the place desires will be realised, and the place each Indian can harness the transformative energy of the web,” Satyam Darmora, founding father of Wiom, mentioned in an announcement.
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Dwelling Wi-Fi penetration is at present 10 per cent, in comparison with the worldwide common of 80-85 per cent. In an try to bridge this hole, the startup acknowledged that Wiom’s progressive mannequin ensures that numerous customers can get limitless web at low costs, which might go a good distance in the direction of assembly India’s rising web demand.
The corporate is anticipated to achieve greater than 15 crore customers within the subsequent 5 years.
Based by Satyam Darmora, Nishit Aggarwal, Ashutosh Mishra, and Maanas Dwivedi, Wiom supplies inexpensive limitless web to center and lower-middle-income households by means of its platform-led distribution mannequin.
Wiom’s mannequin faucets into the transformative energy of the PM-WANI framework, launched by the federal government of India, which goals to offer inexpensive web entry to 500 million Indians over the following 5 years.
Attributable to this framework, Wiom’s clients can get inexpensive and limitless web beginning at a mere Rs 10.