Braid, an enterprise connectivity startup that has grown without external funding since its launch in 2023, has raised $38 million in Series A financing led by Octopus Ventures.
KPN Ventures, the strategic investment arm of Dutch telecommunications operator KPN, also participated in the round.
The funding marks a new phase for the Netherlands-headquartered company, which reports being profitable and cash-flow positive. Braid currently serves close to 90 enterprise customers, including major global fintech and travel brands.
The startup plans to use the capital to accelerate international expansion, strengthen its carrier network and further develop the infrastructure supporting embedded mobile connectivity.
Braid was founded by Jignesh Dave, whose professional background spans banking and telecommunications.
Before establishing the company, Dave worked in banking across the United Kingdom and South Africa, including at Lloyds. He subsequently founded and operated a mobile virtual network operator for seven years.
That experience exposed him to the complexities of establishing connectivity services, including lengthy procurement procedures, regulatory requirements and carrier negotiations that can extend over three to six months.
The opportunity he identified was to develop infrastructure that other businesses could use without building their own telecommunications operations.
Launched in 2023, Braid, formerly known as Next Communications, was developed around this enterprise-focused model.
Braid provides a connectivity orchestration platform connecting businesses to more than 600 carriers across over 200 countries through a single application programming interface (API).
Enterprises can embed SIM and eSIM connectivity into existing applications using APIs or software development kits (SDKs). The platform also supports fully branded storefronts that do not require dedicated engineering development.
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