Airalo, the world’s first and largest eSIM provider, has announced the completion of a new $220 million investment round led by CVC Capital Partners. The new investment values the company at over $1 billion, making it the first “unicorn” in its industry.
Airalo’s services are currently used by more than 20 million travelers in over 200 destinations. The company aims to set new standards in global communications with its revamped mobile app and unlimited data plans, which it will launch this summer. Airalo’s app offers users a high-quality roaming experience at affordable prices without the need for a physical SIM card.
In addition to the $185 million lead investment from CVC Asia Fund VI, existing investors Peak XV and Antler Elevate also participated in the new financing round. The funds raised will be used to improve the customer experience, develop new products and increase service value. The company will also expand its work on the eSIM platform for corporate customers.
Airalo Founder and CEO Ahmet Bahadır Özdemir said about this achievement:
"This investment is an important milestone not only for Airalo, but for the future of global connectivity in general. We are no longer satisfied with eSIMs for travel - we are building the infrastructure for the next generation of international mobile connectivity."
It should be noted that Airalo's expanding global activities have now also been integrated into the Azerbaijani market. The startup has established an official partnership with Azerbaijan Airlines (AZAL) and has introduced the eSIM service of the Airalo platform to passengers.
Thus, there are 8 "unicorn" startups in Turkey.
