SAN JOSE, Calif.--(BUSINESS WIRE)--Jul 12, 2023--
A leading player in the Cellular IoT ecosystem, Cavli Inc. (brand name “Cavli Wireless” or “Cavli”) announced the closure of its $10 million Series A round from global investors. The round is led by Chiratae Ventures and Qualcomm Ventures. In addition, a major US technology conglomerate also participated in the round.
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Cavli Wireless Series A Funding Announcement (Graphic: Business Wire)
Cavli Wireless designs and manufactures cellular modules in 4G and 5G technologies with integrated eSIM and global connectivity. Cavli began its journey in 2017, when co-founders, John Mathew, Ajit Thomas, Tarun Thomas George, and Akhil A Zeeb, aligned on the simple yet powerful mission that IoT should be made simple, seamless, and global. Cavli has now evolved into a global team spread across four continents, delivering IoT solutions to product makers from 30+ countries. Cavli has been a global company from day one and already operates across the US, India, Spain, Vietnam, the UK, France, Italy, Turkey, and Germany.
“This Series A will enable us to strengthen our position in the global IoT market by expanding our product portfolio, enhancing R&D capabilities, and growing our international presence. Cavli plans to invest in cutting-edge technologies, such as 5G with edge processing capabilities, to address the automotive and industrial sectors globally. 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,” said John Mathew, CEO of Cavli Wireless.
Tarun Thomas George, COO of Cavli Wireless, added, “We are delighted to welcome such a distinguished group of global investors on board, who resonate completely with our vision. Our team is united by a passion for developing and delivering innovative IoT technologies that can drive transformative changes to our customers, and with this investment, we are poised to accelerate the pace of that change.”
TCM Sundaram, Founder, and Vice Chairman, Chiratae Ventures, shared, “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. 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.”
“With the growing penetration of 5G and increasing demand for IoT-enabled applications across industries, the need for solutions that help customers accelerate development and deployment of IoT products has become essential,” said Quinn Li, Senior Vice President of Qualcomm Technologies, Inc. and global head of Qualcomm Ventures. “Cavli Wireless’ intelligent solution integrates modem hardware, connectivity, and device management into a single platform helping businesses easily deploy their IoT products. We’re excited to invest in Cavli Wireless to support IoT adoption and connectivity at the edge.”
This investment comes at a time when the global IoT market is experiencing rapid growth, with the number of connected devices projected to surpass 30 billion by 2025. Cavli’s comprehensive suite of IoT connectivity solutions, backed by its connectivity management cloud platform - Cavli Hubble, provides businesses with the infrastructure needed to harness the power of IoT, driving digital transformation and creating new opportunities for growth.
About Cavli Inc.
Cavli Inc., headquartered in San Jose, California, is revolutionizing the cellular IoT industry with its disruptive hardware and cloud solutions. The company develops a wide range of cellular IoT modules that feature in-built cloud and connectivity solutions to simplify IoT design, development, and deployment for customers. All of Cavli’s smart cellular modules come with eSIM integration and access to the proprietary cloud-based platform, Cavli Hubble, which provides centralized subscription management and simplified device management, along with affordable global LTE, LPWAN, and 5G connectivity out-of-the-box. Cavli’s commitment to quality and innovation has earned it a reputation as a trusted partner for businesses worldwide seeking to unlock the full potential of IoT. For more information, please visit https://www.cavliwireless.com/
About Chiratae Ventures
Chiratae Ventures is a 16-year-old Indian technology venture capital fund advisor, having advised funds that collectively (across 6 funds) have $1.1 Bn AUM, 130+ investments, 48 exits, 8 Unicorns, 3 IPOs, and, a track record of having returned capital to LPs in each of the last 12 years. The funds advised by Chiratae Ventures have investments across sectors such as Consumer-Tech, SaaS, Fintech, and Healthtech and have been early backers of companies such as Myntra, Flipkart, Lenskart, FirstCry, PolicyBazaar, Bizongo, Uniphore, Pixis, and Fibe, amongst many others. For more information, please visit https://www.chiratae.com/.
About Qualcomm Ventures
Qualcomm Ventures, acting through Qualcomm Ventures LLC or its affiliated entities, has been making strategic investments in technology companies that have the potential to dramatically transform our world since 2000. As a global investor, we look to help entrepreneurs build revolutionary businesses that reshape the world around us. For more information please visit: www.qualcommventures.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230712698684/en/
CONTACT: Ajit Thomas, CMO, Cavli Inc
ajit@cavliwireless.com
+1-650-535-1150
https://www.cavliwireless.com/
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: SEMICONDUCTOR IOT (INTERNET OF THINGS) TECHNOLOGY MOBILE/WIRELESS 5G INTERNET HARDWARE
SOURCE: Cavli Inc.
Copyright Business Wire 2023.
PUB: 07/12/2023 01:48 PM/DISC: 07/12/2023 01:44 PM
http://www.businesswire.com/news/home/20230712698684/en