New Delhi-based telecom startup, Wiom, has recently announced the successful completion of its Series A funding round, raising an impressive $17 million (approximately ₹139 crore). The funding round saw strong support from prominent investors such as RTP Global, YourNest, Omidyar Stride One, Network India, Global Brain, Blume Founders Fund, Alteria Capital, and 9 Unicorns, among others, showcasing the confidence and enthusiasm in Wiom’s business prospects.
In this Article
Empowering the Nation with 24×7 Affordable Internet Access
Wiom’s core mission centers around providing unlimited and affordable internet access to middle- and lower-middle-income households through its platform-led distribution model. The company takes pride in its commitment to enabling seamless internet connectivity for all, with unlimited plans starting at just ₹10.
The co-founders, Satyam Darmora, Nishit Aggarwal, Ashutosh Mishra, and Maanas Dwivedi, share a vision of the internet as a fundamental necessity of modern life, alongside air, water, and food. With this vision, they aim to ensure that every individual in the country can access limitless, 24/7 internet connectivity.
Bridging the Internet Divide for India’s Masses with Wi-Fi Enabled Dreams
India, with its vast population, is still grappling with a significant portion of its citizens lacking access to broadband services. Wiom’s ambitious initiative to bridge this digital divide is expected to make a substantial impact. By aligning their efforts with the government’s PM-WANI (wi-fi access network interface) initiative, which seeks to provide affordable internet access to 500 million Indians over the next five years, Wiom is poised to become a major contributor to this national objective.
RTP Global’s Support and Ambitious Ventures
RTP Global, the lead investor in Wiom’s Series A funding round, is no stranger to successful ventures. The firm, founded by Russian entrepreneur and investor Leonid Boguslavsky, recently introduced its fourth sector-agnostic fund, boasting an impressive corpus of $1 billion (around ₹8,195 crore).
The venture capital firm has a remarkable track record of backing successful startups, with notable investments in companies like Cred, Rebel Foods, DeHaat, Delivery Hero, Practo, and Mobile Premier League. In India, RTP Global aims to invest in 20 startups primarily focusing on seed and Series A rounds, thus supporting early-stage companies with innovative ideas.
A Vision for the Future
Wiom’s successful funding round not only showcases the investors’ belief in the company’s business model but also highlights the immense potential for growth and success in India’s telecom market. As the company expands its reach across the nation, it brings the promise of a more connected and digitally inclusive India.
Conclusion
Wiom’s recent $17 million Series A funding, supported by RTP Global and an impressive consortium of prominent investors, represents a significant milestone for the company and the Indian telecom industry as a whole. By providing affordable and limitless internet access to millions of households, Wiom is playing a crucial role in the nation’s digital transformation.
With the backing of RTP Global and their extensive experience in nurturing successful startups, Wiom is well-positioned to realize its vision of a more connected and digitally empowered India. As the company continues to grow and make strides towards fulfilling the government’s ambitious goals, it epitomizes the potential of technology-driven initiatives to create a positive impact on society, fostering economic progress and inclusion in a rapidly evolving digital world.
FAQs
Who are the major investors in Wiom’s Series A funding round?
Wiom’s Series A funding round received strong support from investors like RTP Global, YourNest, Omidyar Stride One, Network India, Global Brain, Blume Founders Fund, Alteria Capital, and 9 Unicorns, among others.
What is Wiom’s mission?
Wiom aims to provide affordable unlimited internet access to middle- and lower-middle-income households in India through its platform-led distribution model.
What are Wiom’s internet plans’ starting price?
Wiom offers unlimited internet plans starting at just ₹10
What is the significance of Wiom’s funding for India?
Wiom’s funding brings hope for a more connected and digitally inclusive India, addressing the issue of internet accessibility for millions of citizens.