Sep 25, 2020, 07:56 EST
Bronx, United States, Sep 25, 2020, 07:56 /Comserve / -- Under the Airtel Startup Accelerator Program, Bharti Airtel announced that it has picked up a strategic stake in Waybeo, a tech start-up. This is a part of Airtel’s strategy to scale up its cloud offerings.
New Delhi, Sept. 24, 2020 -- Under the Airtel Startup Accelerator Program, Bharti Airtel announced that it has picked up a strategic stake in Waybeo, a tech start-up. This is a part of Airtel’s strategy to scale up its cloud offerings.
Waybeo is a start-up that provides deep AI-based analytics for cloud telephony and is headquartered in Trivandrum. Airtel Startup Accelerator Program is fast-growing and helps unlock the potential of promising start-ups. Waybeo is the fifth start-up to join this program.
According to statistics published by the IDC, by 2024, the public cloud services market is expected to reach USD 7.1 billion in India. Under this, there is rapid growth observed in the cloud telephony market as more and more businesses move their processes to cloud-based platforms.
The enterprise cloud telephony segment has seen growth for which Waybeo has built cutting-edge analytic tools. Airtel Startup Accelerator Program will allow Waybeo to access a larger distribution reach and at the same time give Airtel access to Waybeo’s fast-growing and reliable technologies. Airtel, with its integrated product portfolio, provides service to over 2,500 large enterprises along with more than a million growing businesses. Its portfolio includes Airtel Cloud which a multi-cloud product and solutions business.
Airtel Startup Accelerator Program helps start-ups to leverage Airtel’s robust ecosystem. This ecosystem comprises of core strength in data, networks, distribution, and payments. Apart from this, it also provides access to a vast distribution network both online and offline. This network includes more than 300 million customers along with an understanding of deep market and access to a platform of global strategic partners. Under this program, start-ups also get advisory services from the executive team of Airtel. Some of the start-ups that have joined this program are Vahan, Spectacom, Lattu Kids, and Voicezen.
Airtel’s financials for the first quarter ended June 30, 2020, recorded an overall customer base of around 420 million across 16 countries. The total revenue was recorded at INR 23,939 crore which was up 15.4% YoY with underlying growth of 15.8% YoY.
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