One of India’s largest telecommunications operators, Bharti Airtel has acquired a 10% stake in startup tech firm Waybeo to scale up its cloud offerings.
Founded in 2009, Waybeo offers deep AI-powered cloud calling and call tracking services to customers in India. With Airtel picking up a 10% stake, Waybeo’s services will have access to a larger consumer base, and Airtel will have access to Waybeo’s technologies.
“Cloud technologies are transforming the way businesses serve and delight their customers,” said Adarsh Nair, Chief Product Officer of Bharti Airtel.
Waybeo will be the fifth startup company to join Airtel’s Startup Accelerator Program, an initiative that enables startup organisations to unlock their potential with Airtel’s robust technology ecosystem.
“We are really focused on enterprise adoption for our call intelligence tools. Most of the enterprises drive hundreds of thousands of phone calls a month,” said Krishnan R V, the CEO of Waybeo.
The Startup Accelerator Program is said to include access to a vast online and offline distribution network that touches 300m+ customers, deep market understanding and platform of global strategic partners.
“There is no analytics, no automation, and no means to optimize the customer experience. We look at strategic investment from Airtel as an opportunity to scale our technology and enterprise reach,” he added.
Airtel recognised the importance of the cloud telephony market, as the public cloud services market in India is forecast to reach US$7.1 billion by 2024, according to IDC.
The previous four companies to join the Program are AI job matching company Vahan, digital fitness app Spectacom, English learning app Lattu Kids, and conversational AI startup Voicezen.