Indian startup Wiom has raised INR 140 Cr ($17.1 Mn) in a Series A funding round led by RTP Global. The round also saw participation from YourNest, 9Unicorns, and a few renowned angel investors along with existing investors Omidyar Network India and Auxano.
Wiom is a telecom and technology startup that provides affordable and unlimited internet to middle and lower-middle-income households. The startup uses a blockchain-based model to create a distributed “Internet Delivery Model” in the country. This model allows Wiom to provide high-speed internet at a much lower cost than traditional ISPs.
The funding will be used to expand Wiom's product offering and grow the business. The startup plans to launch its services in 100 cities across India in the next two years.
Wiom's Series A funding is a significant milestone for the startup. It shows that there is strong investor interest in the company's business model. It also validates Wiom's vision of providing affordable and unlimited internet to the masses.
Here are some of the key takeaways from Wiom's Series A funding:
- The funding shows that there is strong investor interest in the Indian telecom market.
- Wiom's blockchain-based model has the potential to disrupt the traditional ISP market.
- The funding will help Wiom to expand its product offering and grow its business.
WIOM aims to:
- Democratize internet access in India. Wiom believes that everyone should have access to affordable and unlimited internet, regardless of their income or location.
- Use blockchain technology to create a more efficient and distributed internet delivery model. This model will allow Wiom to provide high-speed internet at a much lower cost than traditional ISPs.
- Make the internet more accessible to rural and underserved communities. Wiom plans to launch its services in rural areas and underserved communities, where internet access is often limited or unavailable.
- Create a more inclusive and equitable internet ecosystem. Wiom believes that the internet should be a tool for empowerment and opportunity, not just for the wealthy and privileged.
Here are some of the specific goals that Wiom is working towards:
- To provide affordable and unlimited internet to 50 million households in India by 2025.
- To launch its services in 100 cities across India by 2024.
- To create a distributed internet delivery model that is more efficient and cost-effective than traditional ISPs.
- To make the internet more accessible to rural and underserved communities.
- To create a more inclusive and equitable internet ecosystem.
Wiom is a relatively new startup, but it has already made significant progress towards its goals. The company has raised significant funding and has a strong team of experienced professionals. Wiom is well-positioned to make a significant impact on the Indian telecom market and to help to democratize internet access in India.
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