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Wiom Team
Delhi-based telecommunications and technology startup Wiom said it has raised Rs 140 crore or approx $17 million in a Series A funding round led by RTP Global, with participation from YourNest, Omidyar Network India, Global Brain, Blume Founders Fund, Alteria Capital, Stride Ventures, Stride One and 9 Unicorns.
According to the statement released by the company, the funds will be strategically used to broaden its footprint across India, recruit high-quality talent, and in enhancing its distributed delivery architecture to achieve its goals.
Wiom said it aims to extend the reach of affordable internet services across India, capitalizing on the PM-WANI framework and also looks to make internet affordable and accessible to 500 million Indians within the coming five years.
Last year in April, The startup raised Rs 30 crore from investors, including YourNest, 9Unicorns, and a notable global tech giant, with additional participation from Omidyar Network India and Auxano.
Within a span of 18 months, It claims to have garnered a user base of over 300,000 in Delhi and is on target to reach more than 150 million users across the country over the next half-decade.
“With the home broadband penetration in the country at a meagre 10% odd; we believe Wiom is uniquely positioned to capture this opportunity. They have innovated across the value chain and are seeing tremendous traction already,” said Nishit Garg, Partner, RTP Global.
“Wiom’s innovative use of PM-WANI has been able to deliver democratised internet access to customers. We truly believe that they will be successful in their endeavour to fulfil the 50 million hotspot mission under PM-WANI in the near future,” said Sunil Goyal, Managing Director, YourNest.
“We remain firm believers in Wiom’s vision to provide affordable, reliable, and ubiquitous internet access to the next half billion through the proliferation of wired home broadband across India. Empowered by the PM WANI model, Wiom’s success can help accelerate the adoption of high-speed internet for millions of households and boost the digital evolution of our country,” said Aditya Misra, Director, Omidyar Network India.
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