The Israeli cloud-based broadband solutions provider DiviNetworks has secured $5 million of investment from IFC, a member of the World Bank Group.
The firm’s DiviCloud service increases Internet transmission capacities and frees up congested internet connections, significantly improving data delivery while saving costs. With deployment in 21 developing countries, the solutions lower costs and increase internet access for enterprises and consumers.
“We welcome the IFC as shareholders in DiViNetworks,” said DiViNetworks’ CEO Barak Avitbul. “The IFC’s investment and contribution will fuel our aggressive growth in emerging economies, enabling ISPs in those countries to economically and efficiently connect their users to the cloud.”
The majority of DiViNetworks’ clients are located in Sub-Saharan Africa, Latin America and South East Asia, with 80% based in the world’s least developed countries as classified by the World Bank’s International Development Agency.
Horacio Rivera-Piza, IFC Global Practice Leader for IT Services, said, “In today’s world, affordable and effective internet access is increasingly important for economic development. DiViNetworks’ technology is offered as a monthly service, playing an important role in expanding broadband access in a simple and cost efficient manner.”