New Delhi, Oct 29 (PTI) London-based venture capital firm Octopus Ventures, along with KPN Ventures, has invested USD 38 million (around Rs 361 crore) in Netherlands-based enterprise connectivity platform Braid in a Series A funding round.
KPN Ventures is the venture capital investment arm of KPN, the Netherlands' leading telecom & ICT service provider.
Braid, launched in 2023, said it is profitable and cash-flow positive, with nearly 90 enterprise customers, including global fintech and travel brands.
The company will use the funds to accelerate international expansion, strengthen carrier partnerships and develop its embedded mobile connectivity infrastructure.
Braid operates a technology platform that allows businesses to incorporate branded mobile connectivity into their existing applications, digital products and customer services without becoming telecommunications operators themselves.
"We believe Braid is defining a new category in embedded connectivity and has the team, technology and ambition to become the default infrastructure layer for businesses delivering connectivity to their customers," said Uthish Ranjan, Partner at Octopus Ventures.
Reinout van Ierschot, Executive Vice President at KPN Wholesale, said Braid's platform enables enterprises to integrate connectivity through a single API, helping reduce operational complexity and accelerate time to market.
