A Silicon Valley-based startup co-founded by Indian Americans has raised $10 million to expand its manufacturing base in India and launch disruptive 5G and automotive solutions for its global customer base, it was announced on Wednesday.
Co-founded in 2017 by John Mathew, Ajit Thomas, Tarun Thomas George, and Akhil A Zeeb, Cavli Wireless designs and manufactures cellular modules in 4G and 5G technologies with integrated eSIM and global connectivity.
This Series A funding led by Chiratae Ventures and Qualcomm Ventures in addition to major US technology conglomerates, will enable Cavli to strengthen its position in the global IoT market by expanding its product portfolio, enhancing R&D capabilities, and growing its international presence, said Mathew, CEO of Cavli Wireless.
Cavli plans to invest in cutting-edge technologies, such as 5G with edge processing capabilities, to address the automotive and industrial sectors globally, Mathew said. With our 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, Mathew said.
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, TCM Sundaram, founder and vice chairman of Chiratae Ventures said. 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," he said.
Cavli said this investment comes at a time when the global Internet of Things (IoT) market is experiencing rapid growth, with the number of connected devices projected to surpass 30 billion by 2025.
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