OXIO, a New York-based first telecom-as-a-service platform for brands and enterprises with a white-label, fully-customizable solution to help turn brands into telecom carriers, announced that it raised $40 million in Series B funding. Bringings total proceeds raised to $65 million to date.
The round was led by ParaFi Capital, with participation from Digital Currency Group, Ascend, and Leyden; as well as existing investors Multicoin Capital, Monashees, Atlantico Capital, FinTech Collective; seed investors Allan Green of Candel & Partners; and angel investors from LightShed Partners and Sea Group.
The funding will support OXIO to accelerate its continued growth in Mexico and to launch its business in the largest mobile market in the world, the United States. OXIO's innovative web3-built technology, combined with the latest funding, strengthens the company's pioneering role in creating the telecom-as-a-service (TAAS) category.
Company: OXIO MOBILE, S.A. DE C.V
Raised: $40.0M
Round: Series B
Funding Month: March 2022
Lead Investors: ParaFi Capital
Additional Investors: Digital Currency Group, Ascend, Leyden Multicoin Capital, Monashees, Atlantico Capital, FinTech Collective, Allan Green of Candel & Partners; and angel investors from LightShed Partners and Sea Group
Company Website: https://oxio.com/
Software Category: Telecom-as-a-service (TAAS) platform
About the Company: OXIO is the first telecom-as-a-service (TAAS) platform for brands and enterprises that unbundles mobile telecom infrastructure, capturing the powerful data and true value that it emits. OXIO’s 100 percent cloud-based solution blends the wireless infrastructure of many providers, enabling something that wasn't possible before — a custom-purposed, asset-light network delivered to each brand in a matter of days. OXIO's B2B SaaS solution unlocks the full and uncompromising control of the wireless experience for brands, including actionable intelligence that drives clear value and results. Mobile data, long locked up in telecom silos, allows brands to get closer to their customers than ever. OXIO is headquartered in New York, with offices in Mexico City and Montreal, Canada.
Source: https://www.businesswire.com/news/home/20220316005441/en/OXIO-Raises-40-Million-to-Launch-in-the-U.S.-and-Brazil-Introduces-Telecom-as-a-Service-to-Turn-Established-Brands-into-Telecom-Carriers