Wiom Expands Broadband Access, Auxano Exits with 7x Return
Wiom, a leading Indian internet infrastructure startup, has expanded broadband access to underserved communities through partnerships with local internet operators. This move aligns with Wiom's asset-light, technology-led platform for affordable broadband access. Meanwhile, Auxano, a venture capital investor, has announced a secondary exit from its portfolio company Wiom, yielding a 7x return.
Wiom's growth is attributed to its innovative approach to broadband access, building glass fiber networks, and leveraging the PM-WANI framework to become India's largest licensed Public Data Office Aggregator (PDOA). Auxano, focusing on disruptive startups across various sectors, initially invested in Wiom in 2017 and again in 2021. The recent exit was facilitated through Auxano's pre-fund Special Purpose Vehicle (SPV).
Both Wiom's Co-founder Satyam Darmora and Auxano's Co-founder and Partner Brijesh Damodaran praised each other's commitment and support. Darmora lauded Auxano's 'Founder First' philosophy, while Damodaran commended Wiom's founding team and investment strategy. This exit marks Auxano's second full exit among a total of four across its investment vehicles.
Wiom's expansion into underserved communities, backed by strategic partnerships and innovative technology, has proven successful. Auxano's investment and support have been instrumental in Wiom's growth, culminating in a 7x return on investment. Both companies look forward to future collaborations and continued success in their respective fields.
Read also:
- Musk threatens Apple with litigation amidst increasing conflict surrounding Altman's OpenAI endeavor
- Transitioning to Electric Vehicles Places Heavy Demand on Power Grids
- E-mobility continues its progress after a decade since the scandal, staying on course
- The Commission deems the assistance program to be in agreement with the domestic market regulations.
