eSIM platform Airalo raises US$60 million in Series B funding

DIGITAL SIM (eSIM) platform Airalo has raised US$60 million in a Series B funding, bringing its total funding to US$67.3 million, it said on Wednesday (Aug 2).

e& capital, the investment arm of global tech group e&, led the round. There was also participation from Surge, Peak XV Partner’s rapid-scale up programme.

Peak XV Partners, previously known as Sequoia Capital India and SEA, was formed after Sequoia Capital split into three separate groups.

The venture capital firm’s US and Europe operations retained the Sequoia name, but its China operations is now known as HongShan. All three groups are separate businesses with independent decision-making, Peak XV said at the time.

Airalo will use the funds raised to support its growth plans, including attracting more users and expanding its global team. It also plans to introduce Airalo Partners – a connectivity solution for businesses.

Established in 2019, Airalo’s platform offers eSIM packages to more than 200 countries and regions. It has a team of more than 250 people from 44 countries across six continents. It provides users with mobile network access, with coverage spanning over 200 countries.