Mobile connectivity startup Braid raises $38 million from Octopus Ventures; here's how it plans to use the funding

Braid, formerly known as Next Communications, has raised $38 million in a Series A funding round led by Octopus Ventures, with KPN Ventures also participating, according to a report by Tech Funding News. The Netherlands-based startup claims to be profitable and cash-flow positive, it added.

The mobile connectivity company will use the funds to expand its presence internationally, grow its carrier network and build out infrastructure to strengthen its position in the embedded connectivity space.

The raise marks the company’s first external capital since it was founded in 2023 by Jignesh Dave, Vishal Dave and Mitesh Popat. The company has presence in multiple regions, including India, Europe, the Middle East and Africa.

How Braid brings connectivity to businesses

Braid helps businesses integrate mobile connectivity into their products and services. For instance, an airline can offer seamless roaming from the moment a passenger books a ticket, a bank can provide mobile data as a loyalty benefit and a sports club can help fans stay connected while travelling abroad for matches.

The company makes that process much simpler through a single application programming interface (API) that connects a business's app to over 600 carriers in more than 200 countries.

Businesses can integrate SIM and eSIM connectivity into their products or launch branded connectivity storefronts without building the underlying technology themselves. Braid says a live trial takes just 3 minutes, and a full mobile launch can take as little as a week.

According to the news report, Braid says it serves about 90 enterprise customers across travel, fintech, clubs and communities, and telecoms. They see themselves as a platform that enables brands to provide connectivity rather than as a connectivity provider themselves, the report added.

A growing market with established players

Braid also faces intense competition from companies that are already building businesses around mobile connectivity.

Airalo, founded in 2019, has over 20 million users and hit a $1 billion valuation in July 2025, having raised almost $287 million to date. Roamless, meanwhile, raised $12 million in a Series A round in December 2025, led by Rasmal Ventures, and plans to enable airlines, travel agencies, financial institutions, and superapps to incorporate its connectivity into their respective offerings.

The long-term opportunity for the company in the mobile connectivity segment could be substantial. Counterpoint Research forecasts that more than 9 billion devices featuring eSIM and similar technologies will ship between 2024 and 2030. By 2030, nearly 70% of all cellular devices shipped are expected to support eSIM or iSIM technology.

For Braid, profitability could give it the flexibility to scale at its own pace. But its growth will depend on whether brands are willing to pay for a dedicated connectivity platform or prefer to source connectivity as a value-added service from the cheapest provider, as per the news report.