Business & Economy Startups Circles.Life raises Series C from Sequoia India to expand abroad

Circles.Life raises Series C from Sequoia India to expand abroad

Author

Date

Category

- Advertisement -

The company plans to launch in Taiwan, Australia and Indonesia plus two other unnamed countries

Circles.Life, the Singaporean mobile data plan operator, announced today it has raised US$50 million from Sequoia India to finance international expansion.

Circles.Life plans to open in five countries over the next 18 months, beginning with a launch in Taiwan in Q2.  The plan is to launch in Australia the next quarter, according to Channel News Asia, Indonesia is also one of the five countries included in the launch.

The company plans to spend quite a bit as it pursues its international goals, expecting to, “invest more than $50 million in each launch.”

- Advertisement -

Furthermore, Circles.Life has dedicated US$25 million to its engineering center in Bangalore. It plans to use this money to use data science to improve its personalised offerings to customers.

In Singapore, Circles.Life operates by purchasing bandwidth from the local telco M1 and then selling it to customers at discounted prices (or giving a huge amount of data).

For example, just this week, the company pulled a clever marketing stunt by announcing it was killing its 20GB for US$20 plan at the end of February. Then, a day later, it announced that it was offering unlimited data for US$20 a month.

The company claims it has 5 per cent of the Singaporean market and calls itself Singapore’s fastest growing telco (although, technically, it is not a telco).

“Circles.Life was built on a mission to give power back to the customers. Because of this mission and our innovative digital platform, we have raised the bar in Singapore and telco space. The significant investment from a blue-chip venture capital firm is a testament to the impact we bring to the industry,” said Rameez Ansar the Co-founder and CEO of Circles.Life.

Also Read: Bullied to succumb: Should tech companies bow to society’s homophobic demands?

Considering its position in Singapore, Circles.Life is still very young, having been launched to the public in May, 2016. In the 2+ years of existence, it has grown into a very well-known brand in the Lion City.

“Circles.Life has a fresh and disruptive approach in reimagining what the telco experience of the future can be for millions of people,” said Mohit Bhatnagar, Managing Director at Sequoia Capital India Advisors.

 

 

The post Circles.Life raises Series C from Sequoia India to expand abroad appeared first on e27.

Source: E27

Please follow and like us:
Tweet
Share
- Advertisement -

Some Sengkang GRC residents concerned after HDB blocks get painted red

Sengkang GRC MP Louis Chua Kheng Wee revealed last week that some of his residents were unhappy with the red colour scheme that was selected for HDB façade repainting works, even though the colour scheme was chosen by popular vote. Mr Chua,...

“Your scores do not define you” – Education Minister urges pupils against dwelling too much on PSLE results

Education Minister Lawrence Wong reminded 12-year-olds across the nation that they are not defined by their examination scores, as the students collected their Primary School Leaving Examination (PSLE) results yesterday (25 Nov). The PSLE is a national examination in Singapore taken by...

“How a child does at 12 years old does not determine his future” – Ex-Education Minister

Former Education Minister Ong Ye Kung opined that how young Singaporeans do on their Primary School Leaving Examination (PSLE) does not determine their future, as 12-year-olds across the nation collected their PSLE results yesterday (25 Nov). Mr Ong served in the Ministry...
Please follow and like us:
Tweet
Share
Follow Me
Tweet