Rakuten, Sequoia, and more pour $5.4m into traveltech firm

Airalo, a US-based traveltech startup, raised US$5.4 million in its latest round of funding.

More funding details

• Lead investor: Rakuten Ventures
• Returning investors: Sequoia Capital India’s Surge, Antler, Singtel Innov8, Wayra (Telefonica), LG Technology Ventures, Go Ventures, Ground Control, Plug and Play, and I2BF
• Stage: Series A

More company updates

• Airalo will use the new funds to expand the coverage of its global embedded SIM (eSIM) cards, grow its in-app services, and improve its user experience.
• The company aims to bring instant connectivity to users by allowing travelers to buy virtual eSIM packages. Users can download the firm’s plan directly onto their phones without having to swap their existing SIM cards.
• Airalo said it has increased the number of daily users on its platform by 15x since October 2019. It is also looking to establish partnerships in the telecom and travel industry.
• The traveltech firm previously secured US$1.9 million in seed funding from Sequoia Capital India’s scale-up program Surge, and Antler.

For more coverage about the company, head here. You can also click on the link below to view the company’s key details and funding history.