New Delhi, Oct. 29 -- Braid, formerly known as Next Communications, has raised $38 million in a Series A funding round led by Octopus Ventures, with KPN Ventures also participating, according to a report by Tech Funding News. The Netherlands-based startup claims to be profitable and cash-flow positive, it added.

The mobile connectivity company will use the funds to expand its presence internationally, grow its carrier network and build out infrastructure to strengthen its position in the embedded connectivity space.

The raise marks the company's first external capital since it was founded in 2023 by Jignesh Dave, Vishal Dave and Mitesh Popat. The company has presence in multiple regions, including India, Europe, the Middle East and Afri...