RTP Global led the Series A round, which included YourNest and Omidyar Network India, an impact investing organization, as well as Global Brain, Blume Founders Fund, Alteria Capital, Stride Ventures, Stride One, and 9 Unicorns.
Wiom, a homegrown tech startup focusing on democratizing internet access in India, announced a Rs 140 crore Series A financing on Thursday.
According to the company, it would now concentrate on growing its reach to cities across India while investing in high-quality staff and distributed delivery architecture.
“Through cutting-edge technological disruptions, Wiom paves the way for a future where connectivity knows no boundaries, dreams can be realized, and every Indian can harness the transformative power of the internet,” said Satyam Darmora, Wiom’s founder, in a statement.
Home Wi-Fi penetration is about 10%, compared to a global average of 80-85%. Wiom’s revolutionary strategy assures that a huge number of people may obtain limitless internet at reasonable pricing, which might go a long way towards fulfilling India’s growing internet demand, according to the startup.
In the next five years, the company expects to achieve more than 15 crore users. Wiom, founded by Satyam Darmora, Nishit Aggarwal, Ashutosh Mishra, and Maanas Dwivedi, is a platform-led distribution approach that provides affordable limitless internet to medium and lower-middle-income homes.
Wiom’s model leverages the revolutionary power of the PM-WANI framework, which was developed by the Indian government with the goal of providing inexpensive internet connection to 500 million Indians over the next five years.
Because of this architecture, Wiom consumers may obtain economical and limitless internet for as little as Rs 10.
