Bharti Airtel, the Indian Telecom major has announced that it has picked up a strategic stake of 10 percent in tech startup Waybeo as part of its strategy to scale up its cloud offerings. Waybeo is a Trivandrum-based startup that is focused on deep Al based analytics for cloud telephony. The firm is the fifth startup to join the fast growing Airtel Startup Accelerator Program.
As per International Data Corporation, the public cloud services market in India is likely to reach $7.1 billion by 2024. Within this, the cloud telephony market is seeing rapid growth as businesses move processes to cloud based platforms. Bharti Airtel claims that Waybeo has built cutting-edge analytics tools for the enterprise cloud telephony segment.
“Under the Airtel Startup Accelerator Program, Waybeo’s solutions will get larger distribution reach while giving Airtel access to Waybeo’s proven as well as emerging technologies. Airtel serves over 2,500 large enterprises and more than a million emerging businesses with an integrated product portfolio, including Airtel Cloud, a multi-cloud product and solutions business,” stated Airtel in an official statement.
“Cloud technologies are transforming the way businesses serve and delight their customers. We are thrilled to onboard Waybeo to our Startup Accelerator program and provide them a platform to scale up their technologies as part of Airtel’s worldclass cloud services ecosystem,” says Adarsh Nair, Chief Product Officer, Bharti Airtel.
“We are really focused on enterprise adoption for our call intelligence tools. Most of the enterprises drive hundreds of thousands of phone calls a month. There is no analytics, no automation, and no means to optimize the customer experience. We look at strategic investment from Airtel as an opportunity to scale our technology and enterprise reach,” stated Krishnan R V, CEO, Waybeo.
Airtel serves over 2,500 large enterprises and more than a million emerging businesses with an integrated product portfolio, including Airtel Cloud, a multi-cloud product and solutions business.