TORONTO, Ontario, Canada—Mississauga, Ontario, Canada: DataWind Inc. (“DataWind” or the “Company”) (TSX:DW), a leader in low-cost internet connectivity for emerging markets was honored with initiating the siren to open trading at the Toronto Stock Exchange (TSX) today. The event celebrated the Company’s recent initial public offering, successfully completed on July 8th. Raising gross proceeds of CAN$30.0 million to expand the implementation of its patented and proprietary technology across emerging markets.
Raja Singh Tuli, Co-Chairman and CTO, Suneet Singh Tuli, President and CEO, and other members of the DataWind management team joined Michael Kousaie, Head of Business Development, Technology, Toronto Stock Exchange and TSX Venture Exchange, to mark the occasion.
Suneet Singh Tuli, President and CEO, DataWind said, “It is an absolute delight for DataWind to be part of the market opening ceremony today.” Commenting further on the recent financing, he stated, “Our IPO on the TSX represents a major milestone for DataWind and gives us the resources to implement the next stage of our vision to bring the internet to billions of unconnected people in the developing world. The internet impacts nearly every aspect of modern society and serves as a powerful economic stimulation. Yet, only a small percentage of individuals in developing countries have internet access.”
Raja Singh Tuli, Co-Chairman and CTO, DataWind said, “The world suffers from an internet infrastructure deficit, however, we believe our patented cloud based web delivery technology can effectively leverage existing cellular telephony networks to deliver affordable internet to 93% of the worlds population. Our technology holds the potential to help bridge the digital divide – effectively and in the most affordable manner.”
Following the successful debut of DataWind’s range of low cost tablet computers and internet solution by the Secretary General of the United Nations, Mr. Ban-Ki-Moon, the Canadian company is now on a mission to empower the digitally disenfranchised to join the internet age.
DataWind has been recognized by the MIT Technology Review in its 2014 list of the World’s 50 Smartest Companies, as the Company is acknowledged for its ability to break the affordability barrier with tablet computers for the population at the base of the pyramid, while delivering internet access on existing networks.
About DataWind
DataWind is a leader in low-cost Internet connectivity for emerging markets. DataWind’s mission is to bring the Internet, which has the ability to create tremendous social and economic benefits, to billions of unconnected people in the developing world. The Company’s Internet Delivery Platform offers a low-cost Internet browsing solution by bundling an affordable tablet device with an inexpensive, pre-paid, 2G Internet service plan.
