Canada-based Oxio, an internet connectivity platform transforming the traditional way people link with their internet service provider (ISP), has bagged US$ 19.6 million in a Series A investment round led by Xavier Niel, Founder of Free, on 19 July 2021.
Investors: The funding round features Xavier Neil as the lead investor with participation from Investissement Québec, Desjardins Capital Markets, WndrCo and Dispatch Ventures. The startup has raised, in total, CA$ 40 million to date.
Purpose of the funding: The firm seeks to deploy the proceeds from the investment round towards rolling out Oxio’s Canadian service and polishing the oxioOS software.
Established in 2018 by Francis Careau and Marc-Andre Campagna, Oxio is an autonomous connectivity platform providing a safe, accessible and appropriate internet offering to Canadians. Amalgamating a human perspective with advanced tech, Oxio is revolutionising how people link with their ISPs. The startup envisages changing people’s outlook towards accessibility to the internet. It views it as a utility rather than commitment. From a customer’s viewpoint, Oxio’s services are an enormous deviation from long-established telecommunication corporations. It is the sole ISP providing local customer support and a sixty-day money-back scheme.
What the Founder has to say: “We envisage a future where internet providers are branched into two core categories: corporations structuring and maintaining physical grids and digital provider companies, similar to Oxio, focusing on user-friendly internet offerings. Our ultimate objective is to offer high-end internet services to our users at a cost-effective price.”- Marc-Andre Campagna, Co-Founder of Oxio.
What the Investors have to say: “We are delighted to again display our trust in Oxio and its development path. Our association with them runs parallel with our motive to support Québec’s venture capital domain, besides bringing foreign investment. It offers us a chance to operate with reliable Québec enterprises structuring the technological backbone of the future.”- Guy LeBlanc, President and CEO of Investissement Québec. “We, at Desjardins, believe that empowering emerging enterprises is the straightforward approach to bolster the well-being of our societies. The support is, particularly, essential for tech businesses, which despite being power plants of creativity, are critical to our societies’ advancement. Our partnership with Oxio aligns with our objective to offer fast-expanding enterprises with aid as per their requirements.”- Marc Villeneuve, Vice-President of Development and Partnership-Eastern Quebec at Desjardins.
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