Singapore-based Wavecell has raised an oversubscribed $8.15 million (S$11.3 million) series B funding round led by Qualgro and MDI Ventures, the corporate venture capital arm of Telkom Indonesia. The round also saw participation from existing investors Wavemaker Partners and other new investors.
Founded in 2010, the firm enables enterprises and application developers to communicate efficiently and enhance customer experience via its messaging and live-video interaction solutions. These solutions can be easily incorporated to their existing website, applications and services.
WaveCell will utilize the freshly raised capital to strengthen its presence in Asia Pacific to better serve the enterprise space. In addition, it will focus on reinforcing its relations with both local and global mobile carriers. With seven offices across the globe, it is seeking to add both local and international talents to the team.
The CPaaS (Communication Platform as a Service), apart from further developing its product and technology, will accelerate its go-to-market strategy for both messaging and live-video solutions. Olivier Gerhardt, CEO and Co-Founder of Wavecell, in an official statement said,
This is a very exciting time for all of us at Wavecell. As we continue to serve our customers, along with product excellence, delivered with constant innovation and passion, we are now ready to continue scaling up our sales and marketing activities as well as growing our engineering team.
He further added the company will be seen working with Telkom Group of companies to form synergies and collaborations with business units in Indonesia. Therefore, they will particularly work on strengthening their presence in the nation. Nicko Widjaja, CEO and Investment Director of MDI Ventures, commented,
With millions of customers in ASEAN like Grab, Lazada, Redmart, and tons of wholesalers and app developers, the best thing about Wavecell is that you don’t even know if you’re already using their technologies. In addition, we are happy to announce that Wavecell has already been working with Telkomsel and is creating great synergy value to the Telkom Group.