IoT module company Cavli raises $10MIoT module company Cavli raises $10M
Cavli Wireless, a startup that makes 4G and 5G modules for Internet of things (IoT) deployments, said it raised $10 million in a Series A funding round. #pressrelease
July 7, 2023
SAN JOSE – We are incredibly excited to share that our Series A fundraise for $10 million has been successfully completed. The round was led by Chiratae Ventures, a prominent VC with Investments sectors such as Consumer-Tech, SaaS, Fintech, and Healthtech along with participation from Qualcomm Ventures, the venture arm of Qualcomm Inc, a global semiconductor major. Another prominent US technology conglomerate also made a significant contribution to this funding round.
Specializing in the design and manufacture of cellular modules, Cavli Wireless offers solutions incorporating 4G and 5G technologies, integrated eSIM, and worldwide connectivity. The company's inception in 2017 came from the shared vision of our co-founders John Mathew, Ajit Thomas, Tarun Thomas George, and Akhil A Zeeb, who believed in the need for a simplified, seamless, and global approach to IoT. Today, Cavli boasts a global team dispersed across four continents, providing IoT solutions to product creators in more than 30 countries. Cavli has maintained its international presence since its inception, with operational footprints in the US, India, Spain, Vietnam, the UK, France, Italy, Turkey, and Germany.
Securing the Series A funding round, Cavli Wireless is set to embark on transformative initiatives, aiming to expand its market reach and enhance product capabilities. The fundraise is expected to accelerate talent acquisition plans for the global R&D and engineering center for Cavli Wireless, currently set up at Infopark, Kochi. This investment will enable Cavli to contribute to positioning the city of Kochi into a buzzing hub for IoT and telecom technology and foster local technology graduate talent pool through campus recruitment & internship programs. Apart from the Technology team growth, global business expansion is also on the cards with business development positions being filled across EMEA & Americas.
To enable Cavli's customers to co-work and jointly develop 'Smart Products' along with the Cavli engineering team, a Customer Experience Center is also on the anvil, which will provide a collaborative space for product engineers from Cavli's OEM customers to work with Cavli's own engineering team to work synergistically on testing, quality assurance, and product rollout. Furthermore, Cavli's current manufacturing base in India will also see a capacity addition, with the installation of new & improved automated calibration and high speed firmware flashing lines.
Cavli Wireless can confidently claim to be a pioneer in the Cellular IoT space, being the first to design, engineer, and manufacture cellular IoT modules in India for the global market.The next few years will see the company vigorously ramping up its team, with the India operations projected to exceed 200 members, spread across technological and business roles. This aggressive expansion is a testament to Cavli Wireless's dedication to fostering India's tech talent, thereby laying a strong foundation for the future of IoT and semiconductors in the country.
This fundraise comes at a time when the global IoT market is undergoing a significant surge, with estimates suggesting that the number of connected devices will surpass 30 billion by 2025. Cavli's comprehensive suite of IoT connectivity solutions, anchored by its cloud-based connectivity management platform, Cavli Hubble, enables businesses to tap into the full capacity of IoT. This grants them the ability to spearhead digital transformations and establish new paths for expansion.
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