Tech startup Wiom raises Rs 140 Cr in Series A round led by RTP Global

New Delhi-based Wiom has raised Rs 140 crore (~$17 million) in a Series A round led by 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. It plans to use the funds to expand its footprint throughout India and invest in high-quality talent 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 Wiom.

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IIT-Delhi incubated 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.

Wiom’s model taps into the transformative power of the PM-WANI framework, launched by the Government of India, which aims to provide affordable internet access to 500 million Indians over the next five years. Due to this framework, Wiom’s customers 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.