Extending internet access for people in deprived communities is worthy of further consideration for tackling social isolation and increasing wellbeing.
The dream of helping these people may now be achieved with the emergence of Wayru — a platform that helps each person’s aspirations be achieved and be tailored to their needs and unique circumstances.
Wayru reached a significant milestone
Wayru, a firm that builds internet networks with the use of Blockchain technology to bridge the gaps in emerging markets, closed a $1.96 million SEED round – a financing round that raises initial capital to start a business.
Borderless Capital led the seed round. It is the largest investor in the Algorand ecosystem: the Blockchain on which Wayru’s technology is developed.
Other investors like BigBrain, Meld, LVT Capital, Algorand Foundation, Lonely, Cogitent, Pulsar, Ferrum Network, 7 ‘OK, Al Goanna DAO, HNT Fund, SNACKCLUB, and five(5) Angel investors, have participated and invested in Wayru’s vision.
Check out this Tweet: A decentralized version of how Internet access is distributed today
Wayru starts to bring their plans into action with the help of the funds secured
With the help of this new funding, Wayru will be able to empower millions of people worldwide to gain access to Internet networks, which will soon reduce the digital gap.
Over the following year, it is expected that the money will secure 12 months of working capital and marketing expenses to help establish the first Internet nodes in low-income communities, connecting over 100,000 users across Latin America.
Wayru is set to focus heavily on expanding in Ecuador within a year of closing the round before expanding into markets such as Brazil, Mexico, and Colombia.
The company hopes to welcome in the coming 12 months at least a dozen people to the team.
Also Read: Wayru X Kairós Foundation
About Wayru
Wayru has created a decentralized Internet Network to close the digital gap once and for all. It is dedicated to bringing together mid-sized ISPs, entrepreneurs, and communities to collaborate on developing, operating, and owning Internet networks.
Wayru believes that ownership of the Internet should be distributed as widely as possible among the general public. If the cost of broadband technology decreases, more people will be able to access various internet networks. Wayru aims to provide three times more data at double the speed than the minimum needed to exit the Internet poverty situation for just 10¢ a day.
Learn more about Wayru through its official website to get to know more about its future and its plans moving forward.
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