New WiMAX Venture targetting Asia and South East Asia

New UK-based Wimax start-up Augere plans to focus on emerging markets, particularly within Asia, and will launch its first services in October.

Augere plans to launch in Bangladesh and Pakistan in October, and is looking at markets such as Indonesia and the Philippines.

The company will start service in Rwanda and Uganda next year.

Chairman and founder Sanjiv Ahuja, former CEO of France Telecom’s mobile arm Orange, says he aims to make broadband internet access available to 1 billion people within five years.

Augere has secured $125 million in an initial round of funding from France Telecom and New York based VC’s New Silk Route and Vedanta Capital.

The Augere business model is based on discount broadband access with a price point of $10 per broadband connection.

Ahuja has a 44% stake in the company, with new investors New Silk Route and Vedanta together holding 33% and France Telecom 22%.
(source: Natalie Apostolou telecomasia.net)