Shaka Raises £780K in Seed Funding to Revolutionize Mobile Connectivity
Shaka, the London-based startup focused on embedded mobile connectivity, has announced a seed funding round of £780K ($1M). The company has emerged from stealth mode to reveal its use of eSIM technology, which allows brands to offer mobile packages to consumers with a single click. The funding round was led by Haatch, an award-winning UK seed fund, Purple Ventures, a VC firm supporting purpose-led tech startups in Central and Eastern Europe, and Antler, a leading early-stage VC in Europe. Several prominent telecommunications angel investors also participated.
The challenges faced by brands seeking to monetize their customers with mobile plans include limited access to mobile infrastructure, long timelines, legacy telco systems, and high setup costs.
Shaka is addressing these challenges by partnering with brands to provide mobile plans to customers instantly and at no cost, using a SaaS end-to-end product and a simple API layer. This approach not only creates significant revenue opportunities but also fosters customer loyalty. Shaka's innovative use of eSIM technology is disrupting the telco space, which has traditionally been dominated by traditional telecoms providers.
The eSIM market is already valued at $4.7bn, and by 2025, 98% of global operators plan to offer eSIM technology in mobile devices. eSIM penetration is expected to rise from 20% in 2023 to 80% in the next five years, driving market value to an estimated $16.3 billion by 2027. Apple's decision to switch to eSIM-only handsets is anticipated to contribute to this growth. With the latest funding, Shaka aims to capitalize on this market expansion by partnering with high-profile customers across the entertainment, retail, and fintech sectors. The company also plans to expand its operations globally.
They've invested in Shaka
Get to know these Fintech investors
Click here for a full list of 6,481+ startup investors in the UK