Excitel raises $11.5 million

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Excitel raises $11.5 million
06 May 2022
6 min read

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News Synopsis

On Thursday, the popular Fibre broadband provider Excitel declared that it has raised $11.5 million from new and existing tech investors based out of Europe. The Broadband company further informed that it intends to utilize the raised capital to reach out to 10 million users across 100 cities by the end of this year.

Meanwhile, as of now, the broadband provider has 700,000 customers across 29 Indian cities. Other than this, it will also use these funds to enhance its technology and customer experience as well as acquire new talent in order to boost its operational and technical capabilities.

The Chief Executive Officer of the company, Vivek Raina in a statement, said, “This year we are fixated on establishing ourselves in newer geographies, extending futuristic tech solutions while at the same time working towards hiring our next rung of leaders to create an ecosystem that sales rapidly.”

Excitel is an internet service provider (ISP) which plans to provide affordable high-speed broadband internet services across India. It especially focuses on Tier 2 and Tier 3 regions. Additionally, Excitel also offers over-the-top (OTT) subscriptions with broadband plans. Currently, it competes with Jio Fiber, Airtel, Tikona, The Sky Internet, Hathway, Den Network, and others.

TWN Express News