Singapore-based travel technology startup Truely has successfully raised an additional $2 million in funding, bringing its total capital raised to $5.5 million. The latest funding round saw participation from new investors DG Daiwa Ventures, Goodwater Capital, and Disrupt.com, with continued support from existing investor BEENEXT.

Founded in 2023, Truely offers a Switchless™ eSIM platform designed to provide seamless global connectivity for travelers. The platform allows users to install an eSIM once and update data plans on demand, eliminating the need for frequent eSIM reinstallation.

The newly acquired funds will be utilized to enhance product development, expand network capabilities, and introduce new enterprise tools aimed at frequent travelers and remote teams. Upcoming developments include network scaling for lower latency, localized pricing and payments, and team travel management features.

The funding follows “strong momentum” in B2C growth generated by the launch of the updated Truely 2.0 app, the company said. The platform is now available in more than 200 destinations, according to its LinkedIn. Truely is focusing on scaling B2B2C partnerships with online travel agencies, airlines, and fintech super-apps to embed its eSIM capabilities into third-party platforms.

Simon Landsheer, Co-Founder and CEO of Truely, expressed enthusiasm about the company’s growth trajectory, stating,

“As a frequent traveller myself, I truly feel like I’m building my dream product… we have a lot planned and we’re going to keep executing.”

The participation of DG Daiwa Ventures is expected to provide Truely with access to Japanese distribution channels and corporate partnerships, particularly in East Asia’s outbound travel corridor. Goodwater Capital’s involvement is anticipated to support Truely’s expansion into high-frequency business travel segments.

“As a global VC, we often encounter the frustration of eSIM solutions that require new installations with every trip and offer unpredictable data storage options,” said Makoto Ibi and Yuma Nishikawa of DG Daiwa Ventures.

“Truely offers a promising solution, providing seamless and flexible connectivity for frequent travelers. We are confident in Truely’s ability to address these challenges and scale, especially given the team’s extensive experience, deep connections within the community and strong network.”

With the global travel and tourism market projected to reach new heights in 2025, Truely’s innovative approach to eSIM technology positions it well to capitalize on the increasing demand for seamless connectivity solutions among international travelers.

Affordable Unlimited Data with No Reinstalls: Truely’s Smart Plans for Europe and Asia and more!

Truely’s data plans stand out for their transparent pricing and seamless connectivity. For instance, their 10-day unlimited data plan for Europe is priced at $3.69 per day, totaling $33.21 with one day free. Similarly, the Asia plan offers 10 days of unlimited data at $3.99 per day, totaling $35.91 with one day free. These plans leverage Truely’s Switchless™ eSIM technology, allowing users to install the eSIM once and manage data plans across 190+ countries without the need for reinstallation. This approach simplifies the user experience, ensuring travelers have reliable internet access without the hassle of swapping SIM cards or dealing with roaming fees.