Wimax start-up Augere has secured €88 million in an initial round of funding from France Telecom ad New York based VC’s New Silk Route and Vedanta Capital.
The broadband operator is focused on developing markets, with plans for a launch in Bangladesh and Pakistan in October, with Indonesia, the Philippines and Nigeria to follow.
The London-based project was founded by Sanjiv Ahuja, former CEO of France Telecom’s mobile arm Orange.
Company chairman and a major shareholder Ahuja, told the FT that Augere’s goal was to make broadband internet access available to 1 billion people within five years. The Augere business model is based on discount broadband access with a price point of Euro 7 ($10) per broadband connection.
Ahuja has a 44% stake in the company, with new investors New Silk Route and Vedanta together holding 33% and France Telecom 22%.
