Truphone, the UK-based telecom company has secured $38 million as part of a venture round. The capital infusion comes from the existing backers of the firm. Before this round, the firm has raised around $65 million in October 2018. The top backers of the firm include names like Minden, Vollin holdings, Emerson Collective, Millhouse LLC, Wellington Partners, Acton Capital, and others. The latest financing takes the total amount raised by the firm to $622.3 million.
Ralph Steffens, the CEO of the firm through a statement said that "We have long championed eSIM as the superior method of connectivity, and it’s immensely rewarding to reap the benefits of this decision. We are delighted that our investors continue to support us as we develop this technology which is maturing and accelerating all the time. Backed further by our investors, the future looks bright for Truphone, our partners, customers, and a better-connected world."
Notably, the firm has partnered with Apple a long time back for the development of eSIM for its iPad tablets. The firm also announced that it has now joined hands with 25 “major operator customers across four continents”, covering some 200 million customers. It claims to be one of the three biggest eSIM providers now globally.