Braid, a startup formerly known as Next Communications, has secured $38 million in a Series A funding round. The investment was led by Octopus Ventures with participation from KPN Ventures. The Hague-based company reports that it is currently profitable and maintains positive cash flow.
The platform provides a single API that connects applications to over 600 carriers across more than 200 countries. This infrastructure allows businesses to integrate SIM and eSIM connectivity into their products or launch branded storefronts without requiring dedicated engineering teams. According to the company, a live trial can be set up in 3 minutes, with a full mobile launch taking as little as a week.
Braid currently serves approximately 90 enterprise clients across the fintech, travel, telecommunications, and community sectors. The company was co-founded in 2023 by Jignesh Dave and Mitesh Popat, the latter of whom previously held executive roles at Citi and Flutterwave.
The new capital will be allocated toward international expansion, the development of carrier networks, and infrastructure improvements. The company aims to strengthen its position in the embedded connectivity market, which is projected to grow as Counterpoint Research forecasts that 9 billion eSIM-enabled devices will ship between 2024 and 2030.
