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Exclusive: Telecom Startup WIOM Raises $35 Mn In Round Led By Accel, Prosus
- Telecommunications startup WIOM raises $35 Mn in funding led by Accel and Prosus, valuing the startup at $200 Mn.
- This round saw participation from existing investors, bringing WIOM's total funding to $55 Mn.
- WIOM was founded in 2015 as i2e1 and rebranded in 2021 to focus on providing internet services under the PM-WANI scheme.
- The PM-WANI scheme aims to expand internet services by creating public WiFi Hotspots nationwide.
- WIOM offers affordable internet plans in the INR 4 to INR 16 range for urban and rural households.
- The startup partners with local internet operators and operates over 70,000 WiFi hotspots.
- WIOM's goal is to reach 5 Cr homes and 50 Cr users over the next 5 years.
- WIOM's previous funding round was $17 Mn in Series A led by RTP Global.
- Investors in WIOM include YourNest, Omidyar Network India, Global Brain, and others.
- Ashutosh Mishra, WIOM co-founder, confirmed the latest funding round.
- WIOM's platform-led distribution model focuses on providing internet connectivity through partners.
- WIOM operates on a revenue-sharing model with local operators for internet services.
- The startup pivoted to focus on internet services after the launch of the PM-WANI scheme.
- WIOM was co-founded by Ashutosh Mishra, Satyam Darmora, Nishit Aggarwal, and Maanas Dwivedi.
- WIOM offers unlimited data plans on a two-day basis through its network of hotspots.
- WIOM's funding round was led by Accel and Prosus.
- WIOM is aiming to serve middle and lower-middle income households with internet connectivity.
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