Latest news with #SiddharthPatel
Web Release
a day ago
- Business
- Web Release
Airalo Becomes the First eSIM Unicorn With an Investment Round of $220m
Airalo, the world's first and largest eSIM provider, today announced a $220m investment led by new investor, CVC. The investment includes new growth capital valuing Airalo at over $1 billion, marking its status as the industry's first unicorn. Driven by surging global demand, Airalo has continued its rapid expansion and now serves over 20 million travelers across 200+ destinations. With a new app experience and unlimited data plans launching this summer, Airalo is setting a new standard for global connectivity. Airalo's mobile app empowers travellers to instantly get the highest quality roaming experience when abroad, at prices that are a fraction of what they would normally pay. As millions of users rely on Airalo to stay connected abroad, the company is scaling faster than ever, and this latest funding will further accelerate its growth. The investment includes $185m from lead investor CVC (through its CVC Asia Fund VI), with participation from existing investors Peak XV and Antler Elevate. This new capital will fuel the continual improvement of the customer experience, including enhanced user support, new products and better value for money. Airalo will also use its industry-leading platform to provide connectivity to companies, both for the needs of their employees and their customers. 'This funding is a major milestone, not just for Airalo, but for the future of global connectivity,' said Ahmet Bahadir Ozdemir, CEO and co-founder of Airalo. 'This raise allows us to drive innovation across every part of the user journey by delivering more flexible plans and a faster, more seamless experience. We're not just enabling better eSIM solutions for travel – we're building the infrastructure for the next generation of international mobile connectivity.' 'We are thrilled to partner with Airalo — the clear category leader in travel eSIMs and a pioneer in redefining how travelers connect worldwide,' said Siddharth Patel, Managing Partner at CVC. 'The digital travel eSIM market, whilst already worth US$1 billion, is at the very early stages of becoming the main method by which consumers can receive the highest quality experience abroad, at a much lower price than they pay for roaming today. Airalo, with a highly scalable digital model grown primarily through organic channels, is best positioned to deliver superior value and customer experience for global travelers. We look forward to supporting Bahadir and the Airalo team.' Airalo continues to expand its connectivity offerings to provide a full suite of options for every traveler. Starting in July, the company will offer the market's most extensive range of eSIM data bundles, whether it's for business or pleasure—ranging from 1 GB plans ideal for quick trips and layovers to 30-day unlimited data bundles for travelers with heavier data needs. Additionally, Airalo is introducing dedicated data, text, and voice packages in select destinations to allow users to truly 'connect like a local.' Beyond these new packages, Airalo will soon roll out a new in-app experience across web, iOS, and Android to further improve the user journey. The company is also scaling its enterprise platform to meet rising demand from businesses and partners. Airalo for Business provides companies with a streamlined platform to manage global connectivity for their teams—helping them assign eSIMs, control budgets, and reduce roaming costs by up to 90%. For partners, Airalo's White Label solution makes it easy to launch a fully branded eSIM store in minutes, unlocking new revenue opportunities with minimal effort. Airalo also offers API integrations, reseller tools, and voucher programs to enable any partner to offer travel connectivity to its users. These offerings, along with a new eSIM capability launching soon, reflect Airalo's commitment to building the infrastructure that powers modern, mobile-first businesses everywhere. To learn more about Airalo and how it is helping travelers stay connected, visit For more information on Airalo's business solutions, visit
Business Wire
2 days ago
- Business
- Business Wire
Airalo Becomes the First eSIM Unicorn With an Investment Round of $220m
LEWES, Del.--(BUSINESS WIRE)-- Airalo, the world's first and largest eSIM provider, today announced a $220m investment led by new investor, CVC. The investment includes new growth capital valuing Airalo at over $1 billion, marking its status as the industry's first unicorn. Driven by surging global demand, Airalo has continued its rapid expansion and now serves over 20 million travelers across 200+ destinations. With a new app experience and unlimited data plans launching this summer, Airalo is setting a new standard for global connectivity. Airalo's mobile app empowers travellers to instantly get the highest quality roaming experience when abroad, at prices that are a fraction of what they would normally pay. As millions of users rely on Airalo to stay connected abroad, the company is scaling faster than ever, and this latest funding will further accelerate its growth. The investment includes $185m from lead investor CVC (through its CVC Asia Fund VI), with participation from existing investors Peak XV and Antler Elevate. This new capital will fuel the continual improvement of the customer experience, including enhanced user support, new products and better value for money. Airalo will also use its industry-leading platform to provide connectivity to companies, both for the needs of their employees and their customers. 'This funding is a major milestone, not just for Airalo, but for the future of global connectivity,' said Ahmet Bahadir Ozdemir, CEO and co-founder of Airalo. 'This raise allows us to drive innovation across every part of the user journey by delivering more flexible plans and a faster, more seamless experience. We're not just enabling better eSIM solutions for travel - we're building the infrastructure for the next generation of international mobile connectivity.' 'We are thrilled to partner with Airalo — the clear category leader in travel eSIMs and a pioneer in redefining how travelers connect worldwide,' said Siddharth Patel, Managing Partner at CVC. 'The digital travel eSIM market, whilst already worth US$1 billion, is at the very early stages of becoming the main method by which consumers can receive the highest quality experience abroad, at a much lower price than they pay for roaming today. Airalo, with a highly scalable digital model grown primarily through organic channels, is best positioned to deliver superior value and customer experience for global travelers. We look forward to supporting Bahadir and the Airalo team.' Airalo continues to expand its connectivity offerings to provide a full suite of options for every traveler. Starting in July, the company will offer the market's most extensive range of eSIM data bundles, whether it's for business or pleasure—ranging from 1 GB plans ideal for quick trips and layovers to 30-day unlimited data bundles for travelers with heavier data needs. Additionally, Airalo is introducing dedicated data, text, and voice packages in select destinations to allow users to truly 'connect like a local.' Beyond these new packages, Airalo will soon roll out a new in-app experience across web, iOS, and Android to further improve the user journey. The company is also scaling its enterprise platform to meet rising demand from businesses and partners. Airalo for Business provides companies with a streamlined platform to manage global connectivity for their teams—helping them assign eSIMs, control budgets, and reduce roaming costs by up to 90%. For partners, Airalo's White Label solution makes it easy to launch a fully branded eSIM store in minutes, unlocking new revenue opportunities with minimal effort. Airalo also offers API integrations, reseller tools, and voucher programs to enable any partner to offer travel connectivity to its users. These offerings, along with a new eSIM capability launching soon, reflect Airalo's commitment to building the infrastructure that powers modern, mobile-first businesses everywhere. To learn more about Airalo and how it is helping travelers stay connected, visit For more information on Airalo's business solutions, visit About Airalo Airalo, founded in 2019, is the world's first and largest travel eSIM provider. Trusted by over 20 million travelers to date, Airalo offers eSIM packages in 200+ countries and regions, empowering users to instantly connect to mobile networks worldwide. Headquartered in the U.S. with a remote team spanning 55 countries, Airalo is committed to making mobile connectivity on the move easier, more affordable, and accessible to all. Airalo is backed by a global network of venture capital, private equity and strategic telecom investors, including CVC, Peak XV, e& capital, Antler, KPN Ventures, Wayra Ventures (Telefonica), Bell Ventures, Orange Ventures, Liberty Global Ventures, Rakuten Capital, Singtel Innov8, Telekom Innovation Pool, LG Technology Ventures, GO Ventures, Plug and Play, and other investors. Learn more at and CVC is a leading global private markets manager with a network of 30 office locations throughout EMEA, the Americas, and Asia, with approximately €202 billion of assets under management. CVC has seven complementary strategies across private equity, secondaries, credit and infrastructure, for which CVC funds have secured commitments of over €260 billion from some of the world's leading pension funds and other institutional investors. Funds managed or advised by CVC's private equity strategy are invested in approximately 140 companies worldwide, which have combined annual sales of over €168 billion and employ over 600,000 people. For further information about CVC please visit: Follow us on LinkedIn.
Business Times
2 days ago
- Business
- Business Times
eSIM platform Airalo raises US$220 million in new funding round, lifts valuation past US$1 billion
[SINGAPORE] eSIM platform Airalo has raised US$220 million in a financing round, valuing the company at more than US$1 billion. This makes the Singapore-headquartered company the first unicorn in the industry, Airalo said in a statement on Thursday (Jul 10). The latest funding round is led by a new investor, Luxembourg-based CVC with about 202 billion euros (S$302.9 billion) of assets under management. CVC is injecting US$185 million through its Asia Fund VI. Airalo has also received investments from existing stakeholders Peak XV and Antler Elevate. The eSIM provider will use the funds to accelerate its growth and improve customer experience – which includes enhancing user support and developing new products. Airalo also wants to use its platform to provide connectivity to companies, for the needs of their staff and clients. 'The digital travel eSIM market, whilst already worth US$1 billion, is at the very early stages of becoming the main method by which consumers can receive the highest quality experience abroad, at a much lower price than they pay for roaming today,' Siddharth Patel, managing partner at CVC, said in the statement. Founded in 2019, Airalo provides eSim services in more than 200 countries and regions to over 20 million users globally. Airalo added that it would soon introduce new data packages and in-app features, including dedicated data, text, and voice packages in selected markets.
Indian Express
04-07-2025
- Politics
- Indian Express
In Gujarat, Patidar pitch for Cong chief post grows as key faces reach out to Rahul Gandhi
Days after Shaktisinh Gohil resigned as the Gujarat Pradesh Congress Committee (GPCC) president owning moral responsibility for the party's defeat in the recent Visavadar and Kadi Assembly bypolls, a slew of the party's Patidar faces have demanded that a leader from their community be named the new GPCC chief. At least 28 Patidar leaders from the Congress, including several former MLAs and MPs, met at a farmhouse in Ahmedabad on July 1, following which ex-MP Virji Thummar wrote to Leader of the Opposition (LoP) in the Lok Sabha, Rahul Gandhi, over their demand. The meeting concluded that as the Congress has long 'sidelined' Patidars in its Gujarat politics, the appointment of a Patidar leader at the helm of the GPCC would boost the party's prospects in the state, sources said. Some leaders claimed that 'a section of Patidars is not very happy with the ruling BJP, so they could return to the Congress if the party gives its leadership to a Patidar face', sources said. In the post-Narendra Modi period in Gujarat, the Congress put up its best performance in the 2017 Assembly elections on the back of the Patidar quota agitation led by Hardik Patel. Patidars, listed in the general category, are considered a politically-influential community in Gujarat, given their numerical strength as well as dominance in several major sectors including agriculture, trade and education. The community forms the core of the BJP support base in the state. Their alliance however came under severe strain during Patidars' 2015-17 stir demanding that the community be put in the OBC category and be extended the attendant benefits of reservation in government jobs and education. In the 2017 polls, the Congress won 77 of 182 seats while the BJP's tally plunged to just 99 seats. In the 2022 polls, however, the BJP regained the Patidar community's support, registering its best-ever performance by bagging 156 seats against the Congress's 17. The current BJP's Chief Minister is a Patidar face Bhupendra Patel. The Gujarat Congress has mostly been headed by the OBC leaders, its last Patidar president being Siddharth Patel, son of ex-CM late Chimanbhai Patel, who held the post during 2008-10. The tallest Patidar leader to hold the post and for the longest period was its first president Sardar Vallabhbhai Patel, who remained the GPCC president from its inception in 1920 until 1946. The last time a Patidar leader held a key Congress position in Gujarat was during 2018-2021 when Paresh Dhanani served as the Congress Legislature Party (CLP) leader. The July 1 meeting of the Congress's Patidar leaders lasted for three hours, with the attendees including Virji Thummar, ex MLAs Lalit Vasoya, Lalit Kathagra, Gitaben Patel and Pratap Dudhat, ex-Mahila Morcha chief and Virji Thummar's daughter Jenny Thummar, among others. Senior Patidar leaders such as Siddharth Patel, Paresh Dhanani, and Ashok Adhewada, gave the meeting a miss due to 'personal and social reasons'. Sources said the invitation was extended to 34 Patidar leaders of the state Congress, of whom 28 attended the meeting. In his letter to Rahul Gandhi, Virji, former Amreli MP, stated: 'We are seeking an appointment with you to discuss the present situation of Congress in Gujarat and how the caste equation and balance are much needed… for the better performance of the party in the upcoming elections (and) for a more inclusive party politics. Please accept our proposal and call us soon for a meeting.' Talking to The Indian Express, Virji said, 'In the July 1 meeting, it was discussed how the Congress could get the Patidar community's support back, which was earlier a strong vote bank of the party. We concluded that if the Congress appoints a Patidar leader as the GPCC chief, the community could get reconnected to the party. There are over 11% Patidar voters in Gujarat. Patidars are financially strong, and other castes also support them. The community is very unhappy with the present BJP. If the community is given respect by making one of their leaders as GPCC president, we are sure they would return to the Congress.' Virji also said, 'Before writing the letter to Rahul Gandhi, I called up AICC's observer for Gujarat Mukul Wasnik and shared the conclusion of our community leaders' meeting… Wasnik said he has sent our meeting proposal to Gandhi.' Lalit Vasoya, ex-Dhoraji MLA, told The Indian Express: 'The GPCC president's post is lying vacant now and no Patidar has been chosen for it for a long time. So why can't we seize the opportunity and make our case to Rahul Gandhi.' Paresh Dhanani said, 'The Congress should appoint such a leader as the GPCC chief who is affiliated to the party's ideology. In Gujarat, political leaders indulge in casteism and communalism, but the voters do not believe in them. Patidars have been left out from the posts of GPCC president and LoP (CLP leader) in Gujarat for a long time, barring the stints of Siddharthbhai Patel and me.' He also said, 'In the 2017 elections, the Congress secured 77 seats, largely due to the Patidar quota movement, which had spread across the state. Patidars were unhappy with the BJP, so they backed the Congress. The Patidar votes are influential in 106 seats, which include 33 seats where the Patidar candidates from different parties contest against each other. If a Patidar is made the GPCC chief, it would impact the state's political equations and benefit the Congress.' Jenny Thummar said the July 1 meeting focused on regaining the Patidar votes for the Congress. 'The party appointed 41 DCC chiefs, of whom seven are Patidars. Our meeting discussed ways to support them and strengthen the Congress organisation. A key point was how a Patidar GPCC chief would bolster the party.'
