Bharti Airtel, India’s leading telecom company, has purchased a nearly 25% stake in Bengaluru-based technology startup Lavelle Networks for an undisclosed sum.
Lavelle Networks is a provider of Software-Defined Wide Area Network (SDWAN) solutions to several industries. According to Airtel, its platform has connected several thousands of Indian businesses, including the country’s top financial institutions, to e-commerce networks.
The agreement is subject to any statutory approvals that may be required. On the NSE, Airtel shares were up over 2% at ₹729.25 at noon on Monday.
“We are pleased to support Lavelle’s growth journey and excited to collaborate with them to take their world-class solutions to enterprise customers in the fast growing Indian NaaS market. With our end-to-end solutions play and brand trust, we are uniquely positioned to serve the needs of India’s fast growing digital economy,” said Ajay Chitkara, Director and CEO of Airtel Business.
Airtel Business’ Network as a Service (NaaS) is a digital platform designed to meet the evolving connectivity needs of businesses as they accelerate their cloud and digital adoption and usage.
Airtel will offer software-defined connectivity solutions from Lavelle Networks as part of its NaaS portfolio, as well as co-create many innovations as part of its NaaS platform.