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HomeFunding London-based shaka Secures €1 Million in Seed Funding

[Funding alert] London-based shaka Secures €1 Million in Seed Funding

London-based shaka secures €1 Million in seed funding. Shaka is utilising eSIM technology to let marketers to provide mobile packages to customers at the push of a button, stepping out of stealth mode to make the announcement.

London-based shaka secures €1 Million in seed funding. Shaka is utilising eSIM technology to let marketers to provide mobile packages to customers at the push of a button, stepping out of stealth mode to make the announcement.

Haatch, Purple Ventures, Antler, and several more well-known angel investors in the telecom industry led the round.

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Through the onboarding of a number of notable and high-profile clients from the retail, entertainment, and fintech verticals who have already expressed a desire to sell mobile packages through Shaka, the fundraising round will enable Shaka to realise the potential of this market development.

With the help of the finance, Shaka will be able to carry out its global ambition and grow outside the UK market, giving brands the ability to connect with all of their clients worldwide.

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Jonas Jelinek, co-founder of shaka, commented: “After banking and insurance, telecoms is next on the list of legacy industries ready to be disrupted and fundamentally uprooted with technology and a truly customer-first approach. Offering mobile plans to your customers – something that today takes over a year and costs millions of dollars to do, can be done with shaka with a single API call.”

Some of the major obstacles for brands trying to monetize their clients with mobile plans are expensive setup costs, long lead times, outdated telco systems, and lack of access to mobile infrastructure.

Shaka is collaborating with companies to provide instantaneous, free mobile plans to consumers through a SaaS end-to-end product and an easy-to-use API layer, resulting in substantial income prospects and increased customer loyalty.

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Shaka’s creators first got together in 2023 while in London for an Antler residency. A multinational team with roots in the UK, Israel, and the Czech Republic, they are serial entrepreneurs with complementary skill sets from decades of work in software engineering, telco, and venture formation.

The most recent data indicates that the eSIM market is already valued at $4.7 billion. 98% of carriers worldwide want to provide eSIM technology in mobile handsets by 2025, and over the next five years, eSIM penetration is predicted to increase from 20% in 2023 to 80%.

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Fred Soneya, Co-Founder & Partner at Haatch, added: “Brands are closer to consumers than ever before, giving them a unique vantage point to offer tailored mobile packages. shaka recognizes this shift and is empowering businesses to leverage this proximity to better connect with and monetize their customers through mobile services. I can’t think of a better team than Jonas, Charlie and Eli who impressed us with their individual track records in telco and as serial entrepreneurs but also with the way they complement each other.”

Sarah Finegan, Director at Antler, said: “Antler is doubling down on its investments in eSIM technology to bring information and communication to more people around the world. We backed Airalo in Singapore which is now bringing affordable connectivity to five million global users and we believe shaka has the same growth potential. This is a world-class founding team committed to disrupting one of the world’s largest industries. We are delighted to have supported shaka from day zero and are very excited to see what impact they have on a global market worth $3 trillion.”

About Shaka

Shaka, a 2023 startup, is able to accomplish this through eSIM technological innovation. By upending a value chain that is dominated by traditional telecom carriers, this technology is already revolutionising the telecommunications industry. Shaka has already signed up a number of major brands to use the new technology.

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