Virtual Wi-Fi infrastructure firm EasyFi secures angel funding from VCats
Wi-Fi and data network aggregator EasyFi has raised an undisclosed amount in an angel round of funding from incubation platform Venture Catalysts, a company statement said.
The company will use the capital to expand its network connectivity and to establish its virtual infrastructure across 25 new locations, the statement added.
Run by WI Digital Service Pvt. Ltd, EasyFi provides a centralised Wi-Fi service to end consumers, thereby preventing telecom and internet service providers from delivering devices and reducing last-mile operational costs to end-users. EasyFi builds infrastructure close to the customers’ location at the last-mile, allowing service providers to book capacity on the fly to deliver data network services, the statement said.
By offering a virtual infrastructure to internet service providers (ISPs), telcos and cable TV providers, the firm saves the cost of delivery for them while allowing roaming access for end-consumers which includes corporates, public places, markets, malls, communities, villages, hotels and individuals.
One of the major issues that EasyFi’s service addresses is data theft on a public Wi-Fi network such as that in a corporate setting. The startup’s network allows users to access an independent infrastructure. By tackling data theft, Trojans and viruses, and compliance issues on a user’s access log, EasyFi helps its clients save up to 45% of their connectivity costs.
The firm also has partnership avenues, wherein a service set identifier (SSID) can be rented which would enhance the network range and enable roaming for the partner to deliver internet services in new geographies. By becoming a host, communities can also earn monthly rentals and network commissions.
The firm has also signed a memorandum of understanding to embed its WiFi module in home appliances, making them default hosts by extending its network.
“With the funds raised in this angel funding round, we strive to accomplish network partnerships across 25 new locations, scaling up to approximately 2 lakh daily users. Furthermore, we look forward to subsequent rounds of funding to further our vision,” said Bhushan C Thakkar, founder, WI Digital Services, in the statement.
Founded in October 2017, the Nashik-based startup has currently rolled out the beta phase of its service across more than 50 locations in villages, market roads, housing societies, townships, hotels, cafes, malls, bus stands, etc.
The Mumbai-based incubation platform was set up in December 2015 by Apoorv Ranjan Sharma, Anil Jain, Anuj Golecha and Gaurav Jain. It typically invests between $250,000 and $1 million in early-stage startups.
Its recent investments include diaper maker Superbottoms, environmental intelligence startup Ambee, car financing company OTO Capital, bike-sharing app Mobycy, medical-technology startup iNICU, operating system maker PrimeOS and virtual trial room startup Try & Buy.