Delhi-based startup Wiom, which focuses on providing affordable internet services to middle and lower-middle-income households, has raised Rs 140 crores in its Series A round. The funding round was led by RTP Global with participation from YourNest and Omidyar Network India, Global Brain, Blume Founders Fund, Alteria Capital, Stride Ventures, Stride One and 9 Unicorns.

Founded by Satyam Damora, Nishit Aggarwal, Ashutosh Mishra, and Maanas Dwivedi, Wiom works towards providing low-cost unlimited internet through its platform-led distribution model by tapping into the PM-WANI (Wi-Fi Access Network Interface) model by the government. The framework aims to provide affordable internet access to 500 million Indians over the next five years. Through the PM-WANI framework, Wiom said its customers can get affordable and unlimited internet starting at only Rs 10.

“Today, home Wi-Fi has a penetration of just 10 per cent compared to the global average of 80-85 per cent. Attempting to bridge this gap, Wiom’s innovative model ensures that a large number of users can get unlimited internet at affordable prices and can potentially go a long way in fulfilling the growing internet demand in India,” the company said in a statement.

In 18 months, Wiom has gained a user base of more than 3 lakhs in Delhi alone. The company is expected to reach more than 15 crore users in the next five years.

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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.”

A report by IAMAI and Kantar in May this year noted that 52 per cent of India’s population or 759 million people were accessing the internet at least once a month in 2022, of which 399 were from rural India and 360 million from urban areas. Moreover, as per statistics platform Statista, the average cost of 1GB of mobile data in 2022 in India was only $0.17, lower than the cost in the US, UK, Japan, France, China, Germany, South Korea, and more.

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“With the home broadband penetration in the country at a meagre 10 per cent odd, we believe Wiom is uniquely positioned to capture this opportunity. They have innovated across the value chain and are seeing tremendous traction already. We are privileged to partner with the Wiom founders and their team as they define the broadband story of India,” said Nishit Garg, Partner, RTP Global.
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