Airalo, an e-SIM business located in the United States with hubs in Singapore, Toronto, and Istanbul, has raised US $5.4 million in a Series A round-headed by Rakuten Ventures, a Japanese corporate venture capital firm.
Surge, Antler, Singtel Innov8, Wayra (Telefonica), LG Technology Ventures, GO Ventures, Ground Control, Plug and Play, and I2BF Global Ventures were among those that took part.
Airalo plans to utilise the additional funds to extend its worldwide eSIM coverage, in-app services, and user experience. In addition, the travel-tech business will expand its workforce and form new partnerships with telecoms and travel firms.
Abraham Burak and Bahadir Ozdemir founded Airalo in early 2019. Airalo — a combination of the words ‘Air’ and ‘Alo’ (which in many areas of the world means ‘hello’) — promises to provide immediate connectivity throughout the world by allowing travellers to purchase virtual eSIM packages.
Users may download a low-cost plan immediately to their phone without having to swap their SIM card. It simply means that no matter where you go in the globe, you won’t have to deal with the difficulties of buying local physical SIM cards at the airport and installing them or carrying numerous cards.
Airalo received US $1.9 million in seed investment from Antler and Surge in October of this year. It has now expanded its service to include over 190 nations and regions.
“We want to create the gateway to instant travel connectivity worldwide. eSIMs enable a smooth and seamless solution where people no longer need legacy roaming systems or physical SIM cards,” the founder-duo said in a press release.