Wiom, a homegrown tech startup focused on democratizing internet access in India, announced that it had raised Rs 140 crore in a Series A round.
RTP Global led the Series A round, 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.
According to the company, it will now focus on expanding its footprint to cities across 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 realized, and where every Indian can harness the transformative power of the internet,” said Satyam Darmora, founder of Wiom, said.
Home Wi-Fi penetration is currently 10%, compared to a global average of 80-85%. Wiom’s innovative model ensures that many users can get unlimited internet at low prices, which could go a long way towards meeting India’s growing internet demand, according to the startup.
The company expects to reach over 15 crore users in the next five years.
Wiom, founded by Satyam Darmora, Nishit Aggarwal, Ashutosh Mishra, and Maanas Dwivedi, is a platform-led distribution model that provides affordable unlimited internet to middle and lower-middle-income households.
Wiom’s model leverages the transformative power of the PM-WANI framework, which the Indian government launched to provide affordable internet access to 500 million Indians over the next five years.
Due to this framework, Wiom customers can get affordable and unlimited internet starting at a mere Rs 10.
