Global telecommunications company, Bharti Airtel on Wednesday announced that it has picked up a strategic stake in tech startup Waybeo under the Airtel Startup Accelerator Programme.
The company did not divulge into the financial details of the deal.
Airtel Startup Accelerator Programme allows startups to leverage Airtel’s robust ecosystem, including its core strengths in data, distribution, networks and payments. Startups also get access to advisory services from the company’s executive team. In the past, Vahan, Spectacom, Lattu Kids and Voicezen have joined the programme.
Speaking about the new development, Adarsh Nair, Chief Product Officer, Bharti Airtel said,
“Cloud technologies are transforming the way businesses serve and delight their customers. We are thrilled to onboard Waybeo to our Startup Accelerator Programme and provide them a platform to scale up their technologies as part of Airtel’s world-class cloud services ecosystem.”
Backed by an integrated product portfolio, including its multi-cloud product and solutions business, Airtel serves over 2,500 large enterprises and more than a million emerging businesses.
Trivandrum-based Waybeo has built analytics tools for the enterprise cloud telephony segment. Under the Airtel Startup Accelerator Programme, its solutions will get larger distribution reach while giving Airtel access to Waybeo’s proven as well as emerging technologies.
“We are really focused on enterprise adoption for our 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,” added Krishnan R V, CEO, Waybeo.
As per IDC, the public cloud services market in India is likely to reach $7.1 billion by 2024. Within this, the cloud telephony market is seeing rapid growth as businesses move processes to cloud based platforms.
Waybeo, which is focused on deep AI-based analytics for cloud telephony, is the fifth startup to join the fast growing Airtel Startup Accelerator Programme.
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