Airtel buys strategic stake in Kerala-based Waybeo

NEW DELHI/September 23: Bharti Airtel on Wednesday (September 23) picked up a strategic stake in the Thiruvananthapuram-headquartered tech startup Waybeo under the Airtel Startup Accelerator Program.

Airtel, a global telecommunications company with operations in 18 countries across South Asia and Africa, has bought into Waybeo as part of its strategy to scale up its cloud offerings, according to a company statement.

Waybeo, a Trivandrum headquartered startup focused on deep Al based analytics for cloud telephony, is the fifth startup to join the fast growing Airtel Startup Accelerator Program, which helps promising startups unlock their potential.

Airtel Startup Accelerator Program allows start-ups to leverage Airtel’s robust ecosystem, including its core strengths in data, distribution, networks and payments.

As per International Data Corporation (IDC), the public cloud services market in India is likely to reach $7.1 billion (Rs52,185 crore) by 2024. Within this, the cloud telephony market is seeing rapid growth as businesses move processes to cloud based platforms.

Waybeo has built cutting-edge analytics tools for the enterprise cloud telephony segment. Under the Airtel Startup Accelerator Program, Waybeo’s solutions will get larger distribution reach while giving Airtel access to Waybeo’s proven as well as emerging technologies.

Airtel serves over 2,500 large enterprises and more than a million emerging businesses with an integrated product portfolio, including Airtel Cloud, a multi-cloud product and solutions business.

Adarsh Nair, Chief Product Officer, Bharti Airtel said the cloud technologies are transforming the way businesses serve and delight their customers. “We are thrilled to onboard Waybeo to our Startup Accelerator program and provide them a platform to scale up their technologies as part of Airtel’s worldclass cloud services ecosystem,” Nair added.

Krishnan R V, CEO, Waybeo said his company is really focused on enterprise adoption for its call intelligence tools. Most of the enterprises drive hundreds of thousands of phone calls a month. “There is no analytics, no automation, and no means to optimise the customer experience. We look at strategic investment from Airtel as an opportunity to scale our technology and enterprise reach,” Krishnan added.

 

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