Skyroam, a US and China-based provider of global Wi-fi services, has raised US$20 million from its recently completed Series C2 funding round, which will fuel its new business initiatives. The latest financing, which was led by US investment fund Mesh Ventures and British firm Phi Ventures, will be used to develop new business in the “smartphone and Internet of Things sectors”, said Skyroam in a report by Chinese news site 36kr on Tuesday. Other investors that took part in the start-up’s funding round include Premier Ventures Capital, Vickers Venture Partners and GSA Venture Partners. Skyroam was founded in 2008 by serial tech entrepreneur Liu Jing, who serves as the company’s chief executive. The start-up’s operations are run through its offices in San Francisco and Shenzhen. It also has a design outfit in Berlin. The company provides wireless connectivity in more than 130 countries through its patented virtual SIM (subscriber identity module) technology, which allows users to connect to different cellular networks without changing the SIM card on their smartphones. Users can buy 24-hour day passes for as little as US$9 a day and get connected by turning on Skyroam’s portable hotspot device. Its latest gadget, the Solis X Wi-fi Smartspot device, automatically finds the best local signal. It allows up to 10 devices – smartphones, tablets or laptops – to get 4G internet connection. The company has had about 15 million users, mostly aged between 25 and 35, since its service was launched in 2015, reflecting how more young travellers choose to rent or buy portable Wi-fi devices for their trips. To be sure, Skyroam does not lack rivals. A search on Taobao Marketplace, Alibaba Group Holding’s vast e-commerce platform, showed similar portable Wi-fi devices on sale, such as those from a firm called Roaming Man. Alibaba is the parent company of the South China Morning Post . In August, Skyroam won an intellectual property infringement lawsuit against uCloudlink, maker of Roaming Man and other devices. This firm has been barred from selling or allowing others to use some of its devices in the US as of September 1 to avoid further infringing Skyroam’s patents. For more insights into China tech, sign up for our tech newsletters , subscribe to our Inside China Tech podcast , and download the comprehensive 2019 China Internet Report . Also roam China Tech City , an award-winning interactive digital map at our sister site Abacus .
