Airalo, a Singapore-founded eSIM provider, announced Thursday a $220 million 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, the firm said in a statement.
Airalo said the company is scaling faster than ever, and this latest funding will further accelerate its growth.
The investment includes $185 million 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, Chief Executive Officer 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,” he added.
Driven by surging global demand, Airalo said it 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.
The firm’s mobile app empowers travelers to instantly get the highest quality roaming experience when abroad, at prices that are a fraction of what they would normally pay.
“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 $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,” he added.
Airalo said the firm continues to expand its connectivity offerings to provide a full suite of options for every traveler.
Starting in July, the company will offer an extensive range of eSIM data bundles for travelers with heavier data needs.
Additionally, Airalo is introducing dedicated data, text, and voice packages in select destinations。
Beyond these new packages, the firm will soon roll out a new in-app experience across web, iOS, and Android to further improve customers experiences.
The company is also scaling its enterprise platform to meet rising demand from businesses and partners.
Airalo for Business also provides companies with a streamlined platform to manage global connectivity for their teams — helping them assign eSIMs, control budgets, and reduce roaming costs.
For partners, Airalo’s White Label solution launches a fully branded eSIM store in minutes, unlocking new revenue opportunities with minimal effort.
The firm 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, said the statement.
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