Delhi-based i2e1, a smart network layer platform which aims to provide low-cost and free Internet to consumers, has raised $3 million in Series-A funding led by impact investment firm Omidyar Network.
IIT-Delhi-incubated i2e1(Information to everyone), also saw participation from US-based Auxano Ventures and early-stage venture capital firm 3one4 Capital, backed by Mohandas Pai along with some of the organization’s existing investors, reported Mint.
In 2015, the Wi-Fi analytics start-up raised $500,000 in seed funding from GrowX ventures and Mohandas Pai.
The startup plans to use the funds to scale its existing operations and launch a mobile application. The IIT-Delhi is also a shareholder in the company.
“At i2e1, our goal has always been to build a connected ecosystem where information is available to everyone at the right time and place. Retailers in India are slowly realizing that Wi-Fi as a service not only increases customer delight, but can also be used to understand customer behaviour patterns when utilized effectively,” said Satyam Darmora, co-founder, i2e1.
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Founded in 2015 by IIT alumni Satyam Darmora, Nishit Aggarwal, Gaurav Bansal, Maanas Dwivedi, Ashutosh Mishra, and Anugrah Adams, i2e1 is a platform that aims to leverage low-cost technology solutions combined with the power of big data and machine learning systems to offer affordable or free Wi-Fi and Internet to customers.
i2e1 which sells its service to cafes, restaurants, saloons or budget hotel aggregators, claims to provide WiFi hotspots to over 1 Mn users across India and it services 3,000 plus locations across 75 plus cities in the country. The startup aims to reach 10 million users across India in the next few years.