i2e1, an Indian startup providing low-cost/free Internet to consumers and actionable analytics to service providers, has bagged US$500,000 in seed funding led by Delhi-based early-stage investment growX ventures.
Former Infosys CFO TV Mohandas Pai, Rajan Pandhare and Debasish Mitter, besides Singapore Angels also co-invested.
The funds will be used to ramp up i2e1’s operations, analytics platform and team
Founded in early this year and incubated at IIT Delhi, i2e1 is a smart data management platform that aims to leverage low-cost technology solutions combined with the power of Big Data and Machine Learning systems to offer affordable/free Wi-Fi and Internet to customers. It thus helps brands and merchants increase revenue and profitability.
The startup also claims to help reduce the cost of network delivery through cloud-based, remotely-manageable plug-and-play devices.
The firm claims its services are live across India with over 100 paying clients that include retail outlets, Internet service providers and companies in the hospitality industry. The startup plans to expand to over 5,000 locations over next year.
“At i2e1, we are challenging ourselves to create a model which will bridge the information gap for at least 500 million people over the next 5-7 years. While there are many application-level platforms, network-level platforms are still unexplored despite having the potential to transform multiple business models,” said Co-founder Satyam Darmora.
Post-investment, growX MD and CEO Sheetal Bahl will be joining the Board of i2e1.
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