Wiom Secures $17M (140 Cr) in Series A Funding to Expand India Footprint

Wiom, India’s leading affordable internet provider, has raised $17M (140 Cr) in Series A funding led by RTP Global. The funding round also saw participation from several investors, including YourNest, Omidyar Network, Global Brain, Alteria Capital, Stride Ventures, Stride One, and 9 Unicorns.

Founded by Satyam Darmora, Nishit Aggarwal, Ashutosh Mishra, and Maanas Dwivedi, Wiom provides affordable and unlimited internet access to middle and lower-middle-income Indian households. It employs a platform-led distribution model using the PM-WANI framework, initiated by the Government of India.

Despite Jio's significant impact on internet usage in India, the country still has a relatively low number of wired broadband subscribers compared to wireless broadband users. As of April 2023, India had 33.89 million wired broadband subscribers and 817.04 million wireless broadband subscribers, as reported by the Telecom Regulatory Authority of India (TRAI).

Currently, home Wi-Fi penetration in India is at 10%, as opposed to the global average of 80-85%. Wiom, through their proprietary plug-and-play platform, democratises wi-fi connectivity to meet the surging internet demand in the country.

The startup aims to reach more than 15 crore (150M) users in the next five years. It offers unlimited internet services starting from just INR 10 without any upfront costs through an innovative ISP integrated tech stack.

Satyam Darmora, Founder of Wiom, said, “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. 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. We are confident of becoming the largest contributor towards the country’s target of 50 million PM-WANI hotspots across the country.”

With the new capital infusion, Wiom plans to expand its services to various cities across India while focusing on hiring high-quality talent and developing a distributed delivery architecture.

Wiom's platform-led model holds the potential to bridge the digital divide and empower millions of Indians with 24/7 internet access. Its vision of a future with no boundaries to connectivity reflects its commitment to social inclusion and digital empowerment for all. 3one4 Capital is a proud partner from the seed stage on this transformative journey, and we look forward to the company’s exciting growth path ahead!