We are incredibly excited to share that our Series A fundraise for $10 million has been successfully completed. The round was led by Chiratae Ventures, a prominent VC with Investmentssectors such as Consumer-Tech, SaaS, Fintech, and Healthtech along with participation from Qualcomm Ventures, the venture arm of Qualcomm Inc, a global semiconductor major. Another prominent US technology conglomerate also made a significant contribution to this funding round.
Specializing in the design and manufacture of cellular modules, Cavli Wireless offers solutions incorporating 4G and 5G technologies, integrated eSIM, and worldwide connectivity. The company's inception in 2017 came from the shared vision of our co-founders John Mathew, Ajit Thomas, Tarun Thomas George, and Akhil A Zeeb, who believed in the need for a simplified, seamless, and global approach to IoT. Today, Cavli boasts a global team dispersed across four continents, providing IoT solutions to product creators in more than 30 countries. Cavli has maintained its international presence since its inception, with operational footprints in the US, India, Spain, Vietnam, the UK, France, Italy, Turkey, and Germany.
“This Series A will enable us to strengthen our position in the global IoT market by expanding our product portfolio, enhancing R&D capabilities, and growing our international presence. Cavli plans to invest in cutting-edge technologies, such as 5G with edge processing capabilities, to address the automotive and industrial sectors globally. With our IoT platform solution Cavli Hubble tightly integrated with our hardware portfolio, we are pretty confident that Silicon to Cloud integration in its true sense is now a reality” said John Mathew, CEO of Cavli Wireless.
Tarun Thomas George, COO of Cavli Wireless, added, "We are delighted to welcome such a distinguished group of global investors on board, who resonate completely with our vision. Our team is united by a passion for developing and delivering innovative IoT technologies that can drive transformative changes to our customers, and with this investment, we are poised to accelerate the pace of that change.”
Securing the Series A funding round, Cavli Wireless is set to embark on transformative initiatives, aiming to expand its market reach and enhance product capabilities. The fundraise is expected to accelerate talent acquisition plans for the global R&D and engineering center for Cavli Wireless, currently set up at Infopark, Kochi. This investment will enable Cavli to contribute to positioning the city of Kochi into a buzzing hub for IoT and telecom technology and foster local technology graduate talent pool through campus recruitment & internship programs. Apart from the Technology team growth, global business expansion is also on the cards with business development positions being filled across EMEA & Americas.
To enable Cavli’s customers to co-work and jointly develop ‘Smart Products’ along with the Cavli engineering team, a Customer Experience Center is also on the anvil, which will provide a collaborative space for product engineers from Cavli’s OEM customers to work with Cavli's own engineering team to work synergistically on testing, quality assurance, and product rollout. Furthermore, Cavli’s current manufacturing base in India will also see a capacity addition, with the installation of new & improved automated calibration and high speed firmware flashing lines.
Cavli Wireless can confidently claim to be a pioneer in the Cellular IoT space, being the first to design, engineer, and manufacture cellular IoT modules in India for the global market.The next few years will see the company vigorously ramping up its team, with the India operations projected to exceed 200 members, spread across technological and business roles. This aggressive expansion is a testament to Cavli Wireless's dedication to fostering India's tech talent, thereby laying a strong foundation for the future of IoT and semiconductors in the country.
TCM Sundaram, Founder, and Vice Chairman, Chiratae Ventures, shared, "Cavli Wireless has demonstrated a strong commitment to innovation and customer success, positioning the company as a leader in the intersection of Mobility & IoT space. We are excited to support Cavli's vision and believe their unparalleled IoT connectivity expertise will enable them to become an indispensable partner for businesses worldwide."
“With the growing penetration of 5G and increasing demand for IoT-enabled applications across industries, the need for solutions that help customers accelerate development and deployment of IoT products has become essential”, said Quinn Li, Senior Vice President of Qualcomm Technologies, Inc. and global head of Qualcomm Ventures. “Cavli Wireless’ intelligent solution integrates modem hardware, connectivity, and device management into a single platform helping businesses easily deploy their IoT products. We’re excited to invest in Cavli Wireless to support IoT adoption and connectivity at the edge."
This fundraise comes at a time when the global IoT market is undergoing a significant surge, with estimates suggesting that the number of connected devices will surpass 30 billion by 2025. Cavli's comprehensive suite of IoT connectivity solutions, anchored by its cloud-based connectivity management platform, Cavli Hubble, enables businesses to tap into the full capacity of IoT. This grants them the ability to spearhead digital transformations and establish new paths for expansion.
About Chiratae Ventures
Chiratae Ventures is a 16-year-old Indian technology venture capital fund advisor, having advised funds that collectively (across 6 funds) have $1.1 Bn AUM, 130+ investments, 48 exits, 8 Unicorns, 3 IPOs, and, a track record of having returned capital to LPs in each of the last 12 years. The funds advised by Chiratae Ventures have investments across sectors such as Consumer-Tech, SaaS, Fintech, and Healthtech and have been early backers of companies such as Myntra, Flipkart, Lenskart, FirstCry, PolicyBazaar, Bizongo, Uniphore, Pixis, and Fibe, amongst many others. For more information please visit: https://www.chiratae.com/
About Qualcomm Ventures
Qualcomm Ventures, acting through Qualcomm Ventures LLC or its affiliated entities, has been making strategic investments in technology companies that have the potential to dramatically transform our world since 2000. As a global investor, we look to help entrepreneurs build revolutionary businesses that reshape the world around us. For more information please visit: www.qualcommventures.com.