On Wednesday (September 23), Telecom giant Bharti Airtel announced that it has picked up a strategic stake in Thiruvananthapuram (Kerela) based cloud telephony startup Waybeo in a bid to scale up its cloud offerings.
According to the telecom giant, Waybeo has built cutting-edge analytics tools for the enterprise cloud telephony segment.
Waybeo, which is an 11 year old startup and has its headquarter in Thiruvananthapuram, focuses on deep artificial intelligence (AI)-based analytics for cloud telephony. It is the fifth company which has been inducted into Airtel Startup Accelerator programme. The Airtel startup accelerator programme offers firms to leverage Airtel’s robust ecosystem, including distribution networks, payments, advisory services, deep market understanding and global strategic partners.
Krishnan RV Iyer, Co-founder and Chief Executive Officer of Waybeo said “We are 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 automation, no analytics, and no means to optimise the customer experience. We look at strategic investment from Airtel as an opportunity to scale our technology and enterprise reach”.
The telecom giant serves more than 2,500 large enterprises and over a million emerging businesses with an integrated product portfolio, including Airtel Cloud.
As per International Data Corporation (IDC), the public cloud services market in India is likely to reach US$7.1 billion by end of 2024. Within this, the cloud telephony market is seeing swift growth as businesses move processes to cloud based platforms.