Airalo Raises $220M, Becomes First eSIM Unicorn

Airalo, a leading travel eSIM provider co-founded by CEO Ahmet Bahadir Ozdemir and COO Abraham Burak, has secured $220 million in funding, pushing its valuation beyond $1 billion and earning it unicorn status. The funding round was led by Luxembourg-based CVC Capital Partners with $185 million contributed through its Asia Fund VI, with participation from existing investors Peak XV and Antler Elevate. Airalo plans to use the capital to enhance customer experiences, expand product offerings including new data, text, and voice packages, and scale its enterprise platform for corporate clients managing global connectivity. Serving over 20 million travelers across more than 200 countries and regions, Airalo aims to drive innovation in international mobile connectivity by offering flexible and cost-effective eSIM solutions that are typically cheaper than traditional roaming plans. CVC managing partner Siddharth Patel highlighted the digital travel eSIM market as still in its early stages but poised to become the main method for global roaming, praising Airalo's scalable digital model and leadership in the category. The company is also enhancing its in-app experience across platforms and providing API integrations, reseller tools, and voucher programs to partners.