Bharti Airtel picks up stake in tech startup Waybeo

Bharti Airtel on Wednesday announced that it had picked up a strategic stake in tech startup Waybeo in a bid to bolster its own cloud-based services.

To give you a quick brief, Waybeo is a Trivandrum-headquartered startup focused on deep AI-based analytics for cloud telephony. It is the fifth startup to join Bharti Airtel’s Airtel Startup Accelerator Program.

As far as the Airtel Startup Accelerator Program is concerned, it allows start-ups to leverage the company’s robust ecosystem, including its core strengths in data, distribution, networks, and payments. It also gives startups access to advisory services from Airtel’s executive team. In the past, Vahan, Spectacom, Lattu Kids and Voicezen have joined the program.

As per IDC, the public cloud services market in India is likely to reach US$7.1 billion by 2024. Within this, the cloud telephony market is seeing rapid growth as businesses move processes to cloud-based platforms.

According to Airtel, Waybeo has built cutting-edge analytics tools for the enterprise cloud telephony segment. Under the Airtel Startup Accelerator Program, Waybeo’s solutions will get larger distribution reach while giving Airtel access to Waybeo’s proven as well as emerging technologies.

“Airtel serves over 2,500 large enterprises and more than a million emerging businesses with an integrated product portfolio, including Airtel Cloud, a multi-cloud product and solutions business,” Airtel wrote in a press blog.

“Cloud technologies are transforming the way businesses serve and delight their customers. We are thrilled to onboard Waybeo to our Startup Accelerator program and provide them a platform to scale up their technologies as part of Airtel’s world-class cloud services ecosystem,” Adarsh Nair, Chief Product Officer, Bharti Airtel said on the occasion.