Dutch eSIM start-up Braid raises €34 million Series A led by Octopus

Braid, a mobile connectivity start-up based in The Hague, the Netherlands, has raised about €34.13 million (about $38 million) in a Series A funding round led by Octopus Ventures, its first outside capital. The company, previously called Next Communications, announced the round and its new name on October 29-30, 2026. KPN Ventures, the investment arm of Dutch telecom operator KPN, also took part. Braid sells a single software interface that lets other companies build SIM and eSIM mobile connectivity into their own apps, and says it reaches more than 600 mobile networks in over 200 countries.

Mobile connectivity has traditionally been sold by telecom operators directly to customers. Braid's model is different: it lets any company, such as a travel app or a digital bank, offer its own mobile data plans inside its app, without becoming a telecom operator itself. An eSIM (embedded SIM) is a digital SIM built into a phone that can be activated through software rather than by inserting a physical card, which makes this kind of service much easier to deliver.

An API, in plain terms, is a set of software instructions that lets one company's app connect to another company's service. By offering a single API that links to hundreds of networks worldwide, Braid aims to save its customers from negotiating with operators country by country.

The round stands out for two reasons. First, Braid built its business before taking any outside capital, and one report describes it as profitable. Second, a telecom operator's own venture arm, KPN Ventures, invested, which suggests established operators see such platforms as partners rather than only as competitors.

For Indian founders and readers, the story is relevant on two levels. Travel and fintech, two of the sectors Braid serves, are also busy areas for Indian start-ups, and Indian start-ups building travel or fintech apps can study how embedded connectivity becomes a feature rather than a separate product. Braid's path, growing to profitability before raising money, is also a model some founders prefer to heavy early fundraising.

Short-term: Braid will use the money to expand internationally and add carrier partners and infrastructure. Its enterprise customers may gain coverage in more countries.

Long-term: If embedded connectivity becomes common, travellers and app users may increasingly buy mobile data through the apps they already use rather than directly from operators, changing how telecom services are sold.

Who is affected: Businesses in travel, fintech and other sectors that want to offer connectivity; mobile operators, who may sell more capacity through platforms; and consumers, especially international travellers.

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