Wiom Lands $40 Million Investment to Bridge India’s Digital divide
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Wiom, a tech innovator focused on democratizing internet access, has announced a triumphant $40 million funding round. The investment, spearheaded by Bertelsmann India Investments, Accel, Prosus, and promaft Partners, with participation from RTP Global, will fuel Wiom’s mission to connect underserved middle-income households in India with affordable internet.
Wiom’s Mission: Affordable Internet for All
Founded initially as i2e1 in 2015 and rebranded as Wiom in 2021, the company operates a unique asset-light platform. This platform integrates seamlessly with India’s existing internet infrastructure, utilizing the government’s PM-WANI (Prime Minister Wi-Fi Access Network Interface) framework as a licensed Public Data Office Aggregator (PDOA). The company was co-founded by satyam Darmor, Nishit Aggarwal, Ashutosh Mishra, and Maanas Dwivedi.
Wiom’s strategy involves partnering with local internet service providers to extend broadband access to communities where traditional connectivity is not economically feasible. The newly acquired capital will be strategically allocated to enhance product development, bolster team capabilities, and expand operational reach.
Did You Know? Only about 10% of India’s 200 million households have access to affordable, unlimited internet, highlighting the significant digital divide Wiom is addressing.
Investment to Accelerate Digital Inclusion
According to the Telecom Regulatory Authority of India (TRAI), India had 881.25 million internet subscribers as of March 2023, showcasing ample growth but also revealing the vast potential for further expansion, especially in underserved regions [[1]].
Satyam Darmora, Founder of Wiom, emphasized the company’s commitment to making data accessible to everyone at minimal cost, stating, “This funding is not just capital-it’s a step forward in building a more inclusive digital future.”
Rohit Sood, Partner at Bertelsmann India Investments, highlighted Wiom’s innovative approach, noting, “Using its unique asset-light, scalable approach, Wiom is laying the foundation for digital infrastructure that can serve the next 500 million Indians.”
strategic Use of Funds
The funding will enable Wiom to expand its product offerings, invest in talent acquisition across various departments, and accelerate its rollout across digitally underserved cities and districts in India.
Pro Tip: Look for companies that leverage existing infrastructure and government initiatives to scale their impact and reduce costs.
Wiom’s Hiring spree
As Wiom scales its operations, the company is actively recruiting across engineering, operations, and business development roles. This expansion reflects Wiom’s commitment to building a robust team to support its enterprising growth plans.
Key Metrics
| Metric | Value |
|---|---|
| Funding Secured | $40 Million |
| Year Founded | 2015 (as i2e1) |
| Target Audience | Underserved middle-income households in India |
The Future of Affordable Internet in India
Wiom’s success in securing this significant funding round underscores the growing investor confidence in companies addressing the digital divide in India. By leveraging technology and strategic partnerships, Wiom is poised to play a pivotal role in connecting millions of Indians to the internet, unlocking new opportunities for education, economic empowerment, and social inclusion.
What innovative strategies do you think are most effective in bridging the digital divide? How can governments and private companies collaborate to ensure affordable internet access for all?
The Landscape of Internet Access in India
India’s internet penetration has grown significantly over the past decade, driven by increasing smartphone adoption and decreasing data costs. Though, disparities persist, particularly in rural areas and among lower-income households. Initiatives like PM-WANI aim to address thes gaps by promoting the deployment of public Wi-Fi networks.
The COVID-19 pandemic further highlighted the importance of internet access for education, healthcare, and economic activities, accelerating the demand for affordable and reliable connectivity solutions. Companies like Wiom are crucial in meeting this demand and ensuring that the benefits of the digital economy are accessible to all Indians.
Disclaimer: This article provides general information and should not be considered financial or investment advice.
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