Southeast Asia’s telecoms startup, MyRepublic has secured an investment of US$60m as it prepares to launch new services across the region with plans for a future IPO in Hong Kong in 18-24 months’ time.
The Singapore-headquartered company has to date raised a total capital of US$150 million.
Last week, MyRepublic launched its first commercial mobile service in Singapore, introducing three mobile plans - 7GB of data at S$35 a month, 12GB at S$55 a month, and 25GB at S$85 a month. It has formed an MVNO partnership with StarHub in May to utilise Starhub's mobile network infrastructure to offer mobile services in Singapore.
Unlike telcos operating on existing infrastructure and traditional operational models, MyRepublic will be leveraging its own proprietary TelcoTech platform, allowing it to automate a large chunk of its end-to-end service operations, enabling it to lower costs and increase agility.
According to MyRepublic, the cloud-based TelcoTech platform has enabled the operator to quickly enter new markets, launch new services simultaneously across multiple countries, and operate regionally using a single platform.
TelcoTech which is powered by Hitachi Vantara’s Pentaho Data Integration and Business Analytics platform is able to accelerate the company’s telecommunications technology strategy and enhance its business operations in Singapore, Indonesia, New Zealand and Australia.