Bharti Airtel said on Wednesday it has picked up a strategic stake in tech startup Waybeo as part of a plan to scale up its cloud offerings.
Waybeo, a Trivandrum-headquartered startup focused on deep Al-based analytics for cloud telephony, is the fifth startup to join the Airtel Startup Accelerator Programme which helps promising startups unlock their potential.
As per International Data Corporation, the public cloud services market in India is likely to reach $7.1 billion (roughly Rs. 52,180 crores) by 2024. Within this, the cloud telephony market is seeing rapid growth as businesses move processes to cloud-based platforms.
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.
Adarsh Nair, Chief Product Officer at Bharti Airtel said cloud technologies are transforming the way businesses serve and delight their customers. "We are thrilled to onboard Waybeo to our Startup Accelerator Programme and provide them a platform to scale up their technologies as part of Airtel's world-class cloud services ecosystem."
Waybeo CEO R V Krishnan said the startup is focused on enterprise adoption for its 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 optimise the customer experience. We look at strategic investment from Airtel as an opportunity to scale our technology and enterprise reach," he said.
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