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Telecommunications startup WIOM has raised $35 Mn (about INR 290 Cr) in a new funding round led by Accel and Prosus, sources told Inc42.
The funding round, which also saw participation from several existing investors, valued the startup at $200 Mn, the sources added.
WIOM cofounder Ashutosh Mishra confirmed the development with Inc42.
The startup last raised $17 Mn (INR 140 Cr) in its Series A round led by RTP Global in July 2023. Including the latest funding round, it has raised about $55 Mn in funding to date.
WIOM counts the likes of YourNest, Omidyar Network India, Global Brain, Blume Founders Fund, Stride Ventures, and 100Unicorns among its investors.
WIOM was founded in 2015 by Mishra, Satyam Darmora, Nishit Aggarwal, and Maanas Dwivedi as i2e1, which enabled offline retailers and cafes to provide high-speed internet to their customers at INR 5. i2e1 pivoted after the launch of PM-WANI (Prime Minister’s Wi-Fi Access Network Interface) scheme in 2020, and was rebranded as WIOM in 2021.
The PM-WANI scheme aims to accelerate proliferation of internet services by setting up public WiFi Hotspots across the country.
WIOM provides affordable and unlimited internet to middle and lower-middle income households in urban and rural centres through its platform-led distribution model under PM-WANI.
WIOM serves as an aggregator of internet operators and has over 70,000 WiFi Access Network Interface hotspots. The startup operates on a revenue-sharing model with local internet operators and provides internet connectivity through these partners. It offers plans in INR 4 to INR 16 range on a two-day basis with unlimited data.
WIOM aims to reach 5 Cr homes and 50 Cr users in 5 years.
The post Exclusive: Telecom Startup WIOM Raises $35 Mn In Round Led By Accel, Prosus appeared first on Inc42 Media.
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