Wiom has received startup capital of Rs 30 crores. The telecom startup will use the funds to expand its product offerings.
Wiom, a telecom and technology startup, announced on Thursday that it has received Rs 30 crores in seed funding. The company secured the money from YourNest, 9Unicorns, and a worldwide tech giant.
According to a media announcement, the investment round also included a “few renowned angel investors” in addition to previous funders Omidyar Network India and Auxano.
Founder, Satyam Darmora, said, Wiom is optimistic that it will be able to fulfill its target of reaching 50 million households within the next five years with the support and trust of investors.
Darmora also, said, “We intend to use this funding to expand our product offerings and scale our business in record time.”
Omidyar Network India, Principal, Aditya Misra, said his company is encouraged by the role Wiom may play in providing other income possibilities for the large number of internet resellers.
Darmora went on to say that Wiom is developing a blockchain-based approach to build a distributed “Internet delivery paradigm” throughout the country.
He added, “This will provide more people with internet access while also allowing them to supplement their revenues from any “extra internet” capacity. This new strategy will aid in the creation of a “people’s network” for internet use.”