Indian telecom company Wiom on Thursday said it has raised $40 million in a round led by Bertelsmann India Investments (BII) and Accel.
The round, which also saw participation from Prosus, Promaft Partners, and RTP Global, values the firm at around $200 million, according to Tracxn.
Founded in 2015 by Satyam Darmora, Nishit Aggarwal, Ashutosh Mishra, and Maanas Dwivedi, Wiom leverages the Indian Government’s PM-WANI framework, claiming to become the country’s largest licensed PDOA or Public Data Office Aggregator.
In 2023, the firm raised $17 million in its Series A round of funding from investors including RTP Global, YourNest, Alteria Capital, 100Unicorns, Stride Ventures, Omidyar Network, and Blume Ventures.
According to data from Tracxn, the company’s revenue rose to Rs 16 crore, while its loss widened to Rs 44.5 crore in the year ended 2024.
India has less than 12% of households with wireline broadband, while markets like the US and China record over 90%. That’s why Wiom partners with local internet operators with an asset-light model, extending broadband access to India’s underserved, middle-income households, where traditional connectivity models remain unaffordable, BII wrote in a LinkedIn post.
“Wiom is addressing one of the most fundamental yet underserved challenges in India—affordable and unlimited Internet for the masses. Using its unique asset-light, scalable approach, Wiom is laying the foundation for digital infrastructure that can serve the next 500 million Indians,” Rohit Sood, Partner, BII, said.
Most recently, healthcare platform CureBay raised $21 million in its Series B funding round led by BII in May. Previously, BII participated in AgroStar’s $6.7 million funding round in April. In March, BII, along with Accel, led a $40 million Series B round of funding in Indian specialty chemical platform Scimplify. Accel’s recent deals in India include trading platform Sahi and, manufacturer of 3D printers Fabheads.
