New Delhi, July 27 (IANS): Homegrown tech startup Wiom focused on democratising internet access in India on Thursday announced that it has raised Rs 140 crore in Series A round.
The Series A round was led by RTP Global while YourNest and Omidyar Network India, an investment firm focused on impact, also participated, along with Global Brain, Blume Founders Fund, Alteria Capital, Stride Ventures, Stride One and 9 Unicorns.
The company said that it will now focus on expanding its footprint to cities throughout India while investing in high-quality talent and distributed delivery architecture.
“Using cutting edge technological disruptions, Wiom paves the way for a future where connectivity knows no boundaries, where dreams can be realised, and where every Indian can harness the transformative power of the internet,” Satyam Darmora, founder of Wiom, said in a statement.
Home Wi-Fi penetration is currently 10 per cent, compared to the global average of 80-85 per cent. In an attempt to bridge this gap, the startup stated that Wiom's innovative model ensures that a large number of users can get unlimited internet at low prices, which could go a long way towards meeting India's growing internet demand.
The company is expected to reach more than 15 crore users in the next five years.
Founded by Satyam Darmora, Nishit Aggarwal, Ashutosh Mishra, and Maanas Dwivedi, Wiom provides affordable unlimited internet to middle and lower-middle-income households through its platform-led distribution model.
Wiom’s model taps into the transformative power of the PM-WANI framework, launched by the government of India, which aims to provide affordable internet access to 500 million Indians over the next five years.
Due to this framework, Wiom’s customers can get affordable and unlimited internet starting at a mere Rs 10.