Delhi-based i2e1, a smart network layer platform which aims to provide low-cost and free Internet to consumers and actionable analytics to providers, has raised $3 million (about Rs 20 crore) in Series A funding led by impact investment firm Omidyar Network, said a press release.

Other investors that participated in the round inlcude US-based Auxano Ventures, Mohandas Pai-backed early-stage venture capital firm 3one4 Capital, and few existing investors also made investment.

Incubated at IIT-Delhi, i2e1 was founded in 2015 by Darmora, Nishit Aggarwal, Gaurav Bansal, Maanas Dwivedi, Ashutosh Mishra, and Anugrah Adams, a group of IIT-IIM graduates with experience in leadership positions at American Express, Dell, and Microsoft.

Based on innovation at the hardware front, i2e1 aims to reduce the cost of network delivery through cloud-based, remotely manageable plug and play devices. The platform leverages advanced machine-learning systems to create valuable insights and increase revenue and profitability for brands and merchants. i2e1 is live across India with over 100 paying clients, including retail outlets, ISPs, and organisations in the hospitality industry like ZO Rooms Ola Shuttle, OYO and RedBus, among others.

Earlier in December 2015, the startup had raised $500,000 in seed funding from growX ventures, Pai, Rajan Pandhare, Debasish Mitter and Singapore Angels.

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