Telefónica invests in Airalo in a $60m funding round
Aug 3, 2023
- Airalo is an eSIM company that provides users with access to a mobile network with coverage in more than 200 countries and regions.
- Wayra Uk initially invested in Airalo, but, due to its strategic relevance, the company has now decided to invest through Telefónica Ventures.
Telefónica, through Telefónica Ventures, has invested in Airalo, an eSIM company that connects users across countries and regions. The recently closed round raised $60 million in Series B funding. Airalo offers travellers an eSIM (digital SIM) access package that users can install and instantly connect to a mobile network at their destination.
The capital raised will be used to grow Airalo’s community of millions of users, to expand the technology company’s global team and to launch Airalo Partners, a world-class connectivity solution for businesses and organisations around the world.
Airalo was founded in 2019 with the goal of transforming global connectivity and making it accessible and affordable for travellers around the world. Airalo gives users access to eSIM (digital SIM) packages, allowing them to instantly connect to mobile networks in hundreds of destinations around the world.
Today, Airalo is the world’s leading eSIM marketplace, with coverage in more than 200 countries and regions. Its team of more than 250 people is a remote pioneer, spanning 44 countries and six continents. This includes a global partnerships team supporting a wide network of companies and organisations around the world. The Airalo website and app have millions of users worldwide and are available in 22 languages, soon to be expanded to 53. The app is currently available on the App Store (4.7 star rating) and Google Play Store (4.6 star rating).
Airalo was initially invested by Wayra UK, but as it is a strategic startup for the Telefónica Group, the company has decided to invest in this round through Telefónica Ventures, its vehicle for more mature and strategic startups. Airalo’s service is key for Telefónica because it allows them to bring connectivity to all their customers anywhere in the world.
Abraham Burak and Bahadir Ozdemir, co-founders of Airalo, comment: “Over the past few years, Airalo has eased the hardships and increased the peace of mind of millions of travellers by providing highly affordable and accessible connectivity around the world. This new consortium of investors will further help us in our quest to build the gateway to instant connectivity around the world.
Guenia Gawendo, Managing Director of Telefónica Ventures, said: “We are pleased to welcome Airalo to the Telefónica Ventures portfolio, following one of our strategic objectives which is to support the most promising startups in Wayra’s portfolio. With this investment, we intend to strengthen Airalo’s relationship with Telefónica.
Alongside Telefónica, investors in this series include B e& capital, Antler Global, Liberty Global, Naranja, T.Capital, Rakuten, Bell Ventures, Singtel Innov8, Sequoia India and SEA’s Surge (now Peak XV), KPN, I2BF, Plug and Play technology centre LG Technology Ventures.