IoT chip startup Cavli Wireless raises $10 million, led by Chiratae Ventures, Qualcomm Ventures

Internet of Things (IoT) chip startup Cavli Wireless Wednesday said it has raised $10 million in a Series A round led by Chiratae Ventures and Qualcomm Ventures, as well as, a major US technology conglomerate.

Its chief executive John Mathew said that this fund will help Cavli expand its product portfolio, enhance research & development, and grow its international presence.

“Cavli plans to invest in cutting-edge technologies, such as 5G with edge processing capabilities, to address the automotive and industrial sectors globally,” said Mathew.

The designer and manufacturer of 4G and 5G cellular modules with integrated eSIM and global connectivity currently operates across the United States, India, Spain, Vietnam, the UK, France, Italy, Turkey, and Germany.

“We are delighted to welcome such a distinguished group of global investors on board, who resonate completely with our vision…with this investment, we are poised to accelerate the pace of that change,” said Tarun Thomas George, COO of Cavli Wireless.

“Cavli Wireless has demonstrated a strong commitment to innovation and customer success, positioning the company as a leader in the intersection of Mobility & IoT space,” said TCM Sundaram, Founder, and Vice Chairman, Chiratae Ventures.

“With the growing penetration of 5G and increasing demand for IoT-enabled applications across industries, the need for solutions that help customers accelerate development and deployment of IoT products has become essential,” said Quinn Li, Senior Vice President of Qualcomm Technologies, Inc. and global head of Qualcomm Ventures.

“Cavli Wireless’ intelligent solution integrates modem hardware, connectivity, and device management into a single platform helping businesses easily deploy their IoT products. We’re excited to invest in Cavli Wireless to support IoT adoption and connectivity at the edge,” Quinn added.

Cavli, while citing industry research said that the investment comes at a time when the global IoT market is experiencing rapid growth, with the number of connected devices projected to surpass 30 billion by 2025.

Its suite of IoT connectivity solutions is backed by a connectivity management cloud platform – Cavli Hubble which provides businesses with the infrastructure needed to harness the power of IoT.