Broadband services provider Excitel has raised $11.5 million in funding from existing and new investors.
Chief Executive Officer Vivek Raina said the new capital would be used to gain customer market share over the next few years.
The startup is looking to be among the top five players in the market in the near term and take the lead in the long term, as it aims to grow its customer base from the current 0.7 million to over 8 million by 2026.
The New Delhi-based Excitel was founded in 2015 by Victor Francess and Vivek Raina, It is an internet service provider that is excited to offer you the best internet experience you can ask for.
Excitel competes with market leaders such as Reliance Jio, Airtel Xtream, and Act Fibrenet and among others.
“The funding moves us closer to our goal of being the largest FTTH (fiber-to-the-home) provider in the country over the next five years and will help us scale up to a subscriber base of 8-10 million over this period”, said, Vivek Raina, founder of Excitel.
“In addition to the expansion, we will also be deploying these funds towards technology aimed at enhancing customer experience as well as getting the right talent on board to enable the next phase of growth”, he added.
Vivek Raina said that a major part of the new fund will be invested to expand the company’s geographic footprint by entering Mumbai and the western region, which will be followed by a series of expansions across the country, expanding our operational city 29 to 100 by end of this year.
He also added that the company will continue to grow its flagship FTTH offering and maintain its plans at competitive levels. FTTH at home will continue to complement higher speeds on the Internet using 5G, but it will have a separate market that won’t be cannibalized by the development of high-speed wireless broadband.
“In fact, the more high-speed wireless technology, the more it will struggle to cross walls and provide coverage at home because of the physical limitations of any wireless service. noting that all wireless services will not be able to match the indoor coverage of FTTH”, he also added. Currently, the internet service provider offers 100 Mbps connection with router and Wi-Fi for Rs 699 per month, which goes up to Rs 399 per month for the whole year.
Excitel Broadband is an internet service provider founded in 2015 with a passion to deliver the best internet experience you could ask for. They are an international company with its founders from Europe and global headquarters in the Netherlands. Since the founders have been in the business of the internet for 20+ years, this gives us an edge above the rest.
Excitel is also one of the most trusted and fastest-growing ISPs in Delhi NCR and Hyderabad. With a record performance of building over 300,000 connections in 3 years, Excitel is rated as the fastest-growing organization by TRAI. And it doesn’t stop there! Excitel has a network of a staggering 700 Excitel Regional Partners in Delhi NCR with the aim of providing last-mile service to every consumer.
Their partners give us a huge advantage over all other players in the market even bigger names like Airtel and Reliance. With a business owner that looks after the customer at every 0.5 KM, it’s hard to match this level of commitment and service. All in all, They are obsessed to transform the way young Indians experience entertainment over the internet at home.