The UAE's e& capital, the investment unit of the global technology conglomerate formerly known as Etisalat Group, has led a $60 million series B funding for Airalo, the eSIM marketplace that aims to expand its global presence.
The investment brings Airalo's total funding to $67.3 million, and was participated in by Antler Elevate, Liberty Global, Orange, T.Capital, Rakuten Capital, Singtel Innov8, Telefonica Ventures, Sequoia Capital India, Surge, KPN Ventures and I2BF Global Ventures, Airalo, a US start-up, said in a statement on Wednesday.
The capital injection will be used to boost Airalo's expansion plans, including scaling its community that comprises millions of users and grow its global team, the company said.
It will also use the funding to introduce Airalo Partners, a new connectivity solution tailored for businesses and organisations.
"We have complete confidence in Airalo’s ability to expand its user community, strengthen its diverse team and introduce its latest product Airalo Partners, a groundbreaking connectivity solution for global businesses and organisations," said Kushal Shah, managing director of Abu Dhabi-based e& capital.
"We believe that Airalo has the potential to become a travel essential and are excited to support their journey towards becoming the definitive gateway to instant connectivity worldwide."
eSIMs are virtual versions of subscriber identity modules, which are primarily used in mobile devices, most notably smartphones. They contain user identity, primarily a mobile number and are pinpointed to a certain mobile network.
With eSIMs, users do not have to physically swap or transfer SIM cards from device to device; they can be activated online, providing more convenience.
Major companies that offer eSIM services include Apple with its iPhones, Google with its Pixel devices and Samsung Electronics with its Galaxy line-ups.
The global eSIM market is projected to hit $4.62 billion by 2030, from an estimated $1.21 billion in 2023, at a compound annual growth rate of 21 per cent, according to Fortune Business Insights.
"Airalo has alleviated the pain points and improved the experience of millions of travellers by providing very affordable and accessible connectivity all around the world," Airalo co-founders Abraham Burak and Bahadir Ozdemir said.
"This new consortium of investors will further enable us on our quest to build the gateway to instant connectivity worldwide."
Airalo was founded in 2019 and currently offers eSIM packages in more than 200 countries. Its website and app are available in 22 languages, with plans to support 53 languages in the near future.
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Sun jukebox
Rufus Thomas, Bear Cat (The Answer to Hound Dog) (1953)
This rip-off of Leiber/Stoller’s early rock stomper brought a lawsuit against Phillips and necessitated Presley’s premature sale to RCA.
Elvis Presley, Mystery Train (1955)
The B-side of Presley’s final single for Sun bops with a drummer-less groove.
Johnny Cash and the Tennessee Two, Folsom Prison Blues (1955)
Originally recorded for Sun, Cash’s signature tune was performed for inmates of the titular prison 13 years later.
Carl Perkins, Blue Suede Shoes (1956)
Within a month of Sun’s February release Elvis had his version out on RCA.
Roy Orbison, Ooby Dooby (1956)
An essential piece of irreverent juvenilia from Orbison.
Jerry Lee Lewis, Great Balls of Fire (1957)
Lee’s trademark anthem is one of the era’s best-remembered – and best-selling – songs.
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
The Details
Kabir Singh
Produced by: Cinestaan Studios, T-Series
Directed by: Sandeep Reddy Vanga
Starring: Shahid Kapoor, Kiara Advani, Suresh Oberoi, Soham Majumdar, Arjun Pahwa
Rating: 2.5/5
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%3Cp%3E1.%20Chad%3Cbr%3E2.%20Iraq%3Cbr%3E3.%20Pakistan%3Cbr%3E4.%20Bahrain%3Cbr%3E5.%20Bangladesh%3Cbr%3E6.%20Burkina%20Faso%3Cbr%3E7.%20Kuwait%3Cbr%3E8.%20India%3Cbr%3E9.%20Egypt%3Cbr%3E10.%20Tajikistan%3Cbr%3E%3Cbr%3E%3Cem%3ESource%3A%202022%20World%20Air%20Quality%20Report%3C%2Fem%3E%3C%2Fp%3E%0A
ADCC AFC Women’s Champions League Group A fixtures
October 3: v Wuhan Jiangda Women’s FC
October 6: v Hyundai Steel Red Angels Women’s FC
October 9: v Sabah FA
COMPANY%20PROFILE
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Du Football Champions
The fourth season of du Football Champions was launched at Gitex on Wednesday alongside the Middle East’s first sports-tech scouting platform.“du Talents”, which enables aspiring footballers to upload their profiles and highlights reels and communicate directly with coaches, is designed to extend the reach of the programme, which has already attracted more than 21,500 players in its first three years.
The specs: 2018 Volkswagen Teramont
Price, base / as tested Dh137,000 / Dh189,950
Engine 3.6-litre V6
Gearbox Eight-speed automatic
Power 280hp @ 6,200rpm
Torque 360Nm @ 2,750rpm
Fuel economy, combined 11.7L / 100km
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
