Affordable internet provider Wiom has secured Rs 140 crore (~$17 million) in a Series A round led by RTP Global. It plans to use the funds to grow, penetrate into deeper markets in India, further invest in acquiring highly talented professionals and distributed delivery architecture.
“Air, water, food, and the internet are the new essentials of modern life. Every individual in our country must be able to afford 24/7 unlimited internet… We are confident of becoming the largest contributor towards the country’s target of 50 million PM-WANI ( Prime Minister Wi-Fi Access Network Interface) hotspots across the country,” said Satyam Darmora, Founder of New Delhi-based Wiom.
Wiom was founded in 2015 by Satyam Darmora, Nishit Aggarwal, Ashutosh Mishra, and Maanas Dwivedi to provide unlimited affordable internet to middle- and lower-middle-income households via its platform-led distribution model. The startup was incubated by IIT-Delhi.
Wiom offers unlimited internet starting at Rs 10
Wiom’s model taps into the transformative power of the PM-WANI framework, launched by the Government of India, which aims to offer cost effective internet access to 500 million Indians over the next five years. On account of this framework, Wiom’s subscribers can get affordable and unlimited internet starting at Rs 10.
“With the home broadband penetration in the country at a meagre 10% odd, we believe Wiom is uniquely positioned to capture this opportunity. Wiom has innovated across the value chain and is seeing tremendous traction already,” said Nishit Garg, Partner, RTP Global.
YourNest and Omidyar Network India, an investment firm focused on impact, also participated in this round along with Global Brain, Blume Founders Fund, Alteria Capital, Stride Ventures, Stride One, and 9 Unicorns. Wiom aims to democratise internet access in India.
