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Business EconomyPosted at: Sep 23 2020 7:33PM


Airtel picks 10 pc stake in KSUM-fostered Waybeo

Thiruvananthapuram, Sep 23 (UNI) Waybeo Technology Solutions under Kerala Startup Mission (KSUM) hit a milestone on Wednesday when telecom giant Bharti Airtel announced picking up a strategic 10 per cent stake in the Thiruvananthapuram-based company with focus on deep AI analytics for cloud telephony.
The deal, which comes as part of the Airtel Startup Accelerator Programme, will enable 2011-founded Waybeo to earn larger distribution reach, a statement said.
Waybeo Is now located in the Scale-up Space of KSUM in the state capital. Established in order to provide assistance to the creation of a startup ecosystem that contributes to 'Digital India', the Airtel endeavour aims to support growth of early-stage startups in the country.
Waybeo CEO Krishnan R V said the tie-up with Airtel will help the telecom company use the startup’s telephone-based AI services. ''We envisage a technology that analyses the feedback of Airtel customers, besides improved automation for the telecom company to perform better,'' he revealed.
''As a B2B collaboration, this will enable our firm to fetch more such opportunities in the future.''
''We are capable of providing prospects in commerce that goes beyond mobile-phone and internet services,'' the CEO added.
The cloud telephony market in India is registering a rapid growth with businesses move processes steadily giving prominence to cloud-based platforms.
KSUM is the nodal agency of the Kerala Government for entrepreneurship development and incubation activities in the state.
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