Delhi-based telecom startup Wiom has successfully raised INR 140 crore ($17.1 million) in a Series A funding round, with RTP Global leading the investment. Other participating investors include YourNest, Omidyar Network India, Global Brain, Blume Founders Fund, Alteria Capital, Stride Ventures, Stride One, and 9 Unicorns.
Wiom’s Expansion Plans and Platform-Led Distribution Model
With the fresh capital infusion, Wiom plans to expand its presence to cities across India. The startup will also focus on attracting top-tier talent and enhancing its distributed delivery architecture. Wiom, founded in 2015 by Satyam Darmora, Nishit Aggarwal, Ashutosh Mishra, and Maanas Dwivedi, aims to provide affordable and unlimited internet access to middle and lower-middle-income households. The company achieves this through its platform-led distribution model, utilizing the PM-WANI framework introduced by the Government of India.
Wiom’s Vision for Connectivity
Satyam Darmora, the founder of Wiom, stated, “Air, Water, Food, and Internet are the new essentials of modern life. Every individual in our country must be able to afford 24/7 unlimited Internet. Using cutting-edge technological disruptions, Wiom paves the way for a future where connectivity knows no boundaries, where dreams can be realized, and where every Indian can harness the transformative power of the internet.”
Wiom’s Impressive User Base and Growth Plans
Wiom claims to have already surpassed a user base of over 3 lakh in Delhi alone. The startup has ambitious plans to expand its reach. It aims to serve more than 15 crore users within the next five years. Wiom stands out in the market. It provides unlimited internet services without charging any upfront costs. The plans start as low as INR 10.
Positive Outlook Amid Low Fixed Broadband Penetration in India
Despite the revolutionary impact of Jio on internet usage in India, fixed broadband penetration remains relatively low in the country. As of April 2023, India had only 33.89 million wired broadband subscribers, in contrast to a massive 817.04 million wireless broadband subscribers, as reported by the Telecom Regulatory Authority of India (TRAI). Wiom’s unique positioning in the market has attracted significant investment, making it a promising player in the telecom industry. This funding round comes at a time when the overall funding raised by Indian startups experienced a 78.5% decline year-on-year (YoY) in June 2023. Nonetheless, Wiom’s growth potential and innovative approach to bridging the digital divide keep it optimistic about its future prospects.
Also Read The Latest News:
Beyond Snack raises $3.5 million in funding led by NABVENTURES Fund
Reliance joins Brookfield Infrastructure and Digital Realty in Indian data centers
