Skyroam, a US and China-based provider of global Wi-fi services, has raised US$20 million from its recently completed Series C2 funding round, which will fuel its new business initiatives.
The latest financing, which was led by US investment fund Mesh Ventures and British firm Phi Ventures, will be used to develop new business in the “smartphone and Internet of Things sectors”, said Skyroam in a report by Chinese news site 36kr on Tuesday.
Skyroam was founded in 2008 by serial tech entrepreneur Liu Jing, who serves as the company’s chief executive. The start-up’s operations are run through its offices in San Francisco and Shenzhen. It also has a design outfit in Berlin.
The company provides wireless connectivity in more than 130 countries through its patented virtual SIM (subscriber identity module) technology, which allows users to connect to different cellular networks without changing the SIM card on their smartphones.
The company has had about 15 million users, mostly aged between 25 and 35, since its service was launched in 2015, reflecting how more young travelers choose to rent or buy portable Wi-fi devices for their trips.
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