Sunil Mittal Bharti-led Airtel has picked up a stake in tech startup Waybeo under the Airtel Startup Accelerator Program as the telecom firm looks to ramp up its cloud offerings.
Bharti Airtel stock price has corrected by 14 per cent over the past 20 days due to investor concerns on mobile tariff hike delay
Sunil Mittal Bharti-led Airtel has picked up a stake in tech startup Waybeo under the Airtel Startup Accelerator Program as the telecom firm looks to ramp up its cloud offerings. Waybeo, which is a Trivandrum-headquartered startup, focuses on deep AI-based analytics for cloud telephony and is the fifth startup to join the Airtel Startup Accelerator Program. “Cloud technologies are transforming the way businesses serve and delight their customers. We are thrilled to onboard Waybeo to our Startup Accelerator program and provide them a platform to scale up their technologies as part of Airtel’s world-class cloud services ecosystem,” Adarsh Nair, Chief Product Officer, Bharti Airtel said.
The public cloud services in the country are expected to cross $7.1 billion by 2024, according to a IDC report. As businesses swiftly move their processes to cloud based platforms, the cloud telephony market is witnessing a rapid growth.
Waybeo has built an analytics tool for the enterprise cloud telephony segment. Waybeo’s stake pick up will give Airtel access to its emerging technologies. Airtel, which serves over 2,500 large enterprises and more than a million emerging businesses with an integrated product portfolio, including Airtel Cloud, a multi-cloud product and solutions business, can leverage Waybeo’s solutions. “Most of the enterprises drive hundreds of thousands of phone calls a month. There is no analytics, no automation, and no means to optimize the customer experience,” Krishnan R V, CEO, Waybeo said adding that the company welcomes Airtel’s investment which is to be used towards scaling up its technology and enterprise reach.
The Airtel Startup Accelerator Program currently has Vahan, Spectracom, Lattu Kids and Voicezen on-board and helps startups to realize potential by giving them access to Airtel’s ecosystem, including its core strengths in data, distribution, networks and payments. In return, Airtel also gets to leverage the technology developed by these startups.