Braid, a Dutch software-as-a-service startup based in The Hague, has announced the close of a €34.13 million Series A funding round, marking a significant milestone for the company just over a year after its founding in 2023. The round was led by Octopus Ventures, with KPN Ventures also participating in the investment.
The funding announcement arrives alongside news that the company has rebranded from its original name, Next Communications, to Braid. The startup has built an API-based platform that enables businesses to embed SIM and eSIM connectivity directly into their products, simplifying what has traditionally been a complex and fragmented process.
Addressing Market Fragmentation
Braid’s core offering targets a persistent pain point in the telecommunications ecosystem. Rather than requiring brands to navigate lengthy negotiations with multiple carriers and deal with disparate systems, the startup’s platform abstracts this complexity through a unified application programming interface. This approach allows companies to integrate mobile connectivity into their devices or services without becoming infrastructure specialists themselves.
Uthish Ranjan, an investor in the round, highlighted the company’s achievement in this space, stating: “The best infrastructure businesses make something complex feel effortless. Jignesh and the Braid team have taken an industry built around long negotiations and fragmented systems and created a materially simpler way for businesses to embed connectivity into the products their customers already use.”
Plans for Expansion
The company, which is already profitable and cash-flow positive, plans to deploy the fresh capital toward several strategic objectives. Braid intends to accelerate its international expansion, deepen its relationships with carrier networks, and strengthen the underlying infrastructure supporting its embedded connectivity platform.
The timing of the investment reflects growing investor confidence in companies that streamline critical but traditionally opaque business functions. By positioning itself as a bridge between product companies and telecommunications carriers, Braid operates in a space that bridges enterprise software and telecommunications infrastructure.
European Context
The funding round underscores the continued viability of infrastructure-focused startups within the European tech ecosystem. While much attention in recent years has focused on consumer-facing applications and artificial intelligence platforms, investors including Octopus Ventures continue to identify opportunities in unsexy but essential B2B software that can generate sustainable revenue streams. Dutch venture capital, particularly through investors like KPN Ventures, remains active in supporting homegrown technology companies that address real operational challenges within established industries. Braid’s funding demonstrates how European startups can attract significant investment by reimagining how legacy systems integrate with modern product development practices.