Singapore-based cloud communication platform provider Wavecell has raised S$11.3 million (US$8.15 million) in a Series B round led by Qualgro VC, and MDI Ventures, the VC arm of Telkom Indonesia. Previous investors Wavemaker Partners and other new investors also joined this round,
Wavecell will use the new round of financing to strengthen the company’s presence in APAC — with a particular focus on Indonesia now that MDI Ventures is onboard. Wavecell will also reinforce its partnerships with local and global mobile carriers.
The company will also further develop sales and marketing strategies for both its messaging and live-video solutions, as well as hire new engineering talents.
“With millions of customers in ASEAN like Grab, Lazada, Redmart, and tons of wholesalers and app developers, the best thing about Wavecell is that you don’t even know if you’re already using their technologies,” said Nicko Widjaja, CEO and Investment Director of MDI Ventures, in an official press statement.
“In addition, we are happy to announce that Wavecell has already been working with Telkomsel and is creating great synergy value to the Telkom Group,” he added.
Wavecell raised a US$1.6M Series A round early last year. Since then, it claims to have experienced a growth in customer base by over 300 per cent.
“Having backed Wavecell from day one, we are thrilled with their progress in bringing to market a reliable and cost-effective cloud communications platform. With this latest round of funding in place, Wavecell is well-positioned to further expand its leadership position,” said Heang Chhor, Founder and Managing Partner of Qualgro.
Founded in 2010 with a bootstrapped team of 10, Wavecell provides Cloud Communication APIs that help Enterprises to integrate multi-channel communication capabilities into their products and services.
Image Credit: Wavecell