Pranav Kiran · · 1 min readCircles.Life secures investment from EDBI, Founders Fund
Mobile network operator Circles.Life has raised an undisclosed amount in a funding round led by Singapore’s EDBI. Silicon Valley-based venture capital firm Founders Fund also participated in the round.
Circles.Life co-founder and CEO Rameez Ansar / Photo credit: Circles.Life
This follows Circle.Life’s series C round led by Sequoia Capital India in February this year.
The data-focused telco said it will use the fresh funds to grow its engineering team in Singapore by 50% and enter new markets.
It has also launched its services in Taiwan this month and expects to be in five more markets over the next 18 months, according to a statement.
Circle.Life claims to have grown its subscriber base by more than nine times between Q1 2017 and Q1 2019. It also said it has gained a market share of more than 5% in Singapore since its launch in 2016.
Editing by Charmaine de Lazo
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