- Airalo announces closing of new $220 million funding round
- CVC led the funding round to help expand the eSIM sector in MENA
Airalo, headquartered in the United States and operating as a digital platform for electronic SIM (eSIM) services, announced the closing of a new $220 million funding round led by global investment firm CVC.
Funding round details
With this round, Airalo’s market valuation has exceeded $1 billion, making it the first company in the eSIM sector to reach this milestone.
Previous funding rounds saw participation from several international investors, including e& capital, Antler, Plug and Play, LG Technology Ventures, and Orange Ventures.
In 2023, e& capital, the investment arm of Emirates Telecommunications Group (e& UAE), led a Series B funding round for Airalo worth $60 million.
Founded in 2019 by Ahmet Bahadir Ozdemir and Abraham Burak, the company provides services to over 20 million users across more than 200 countries and regions.
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