Telecoms startup Devyce has received backing from Y Combinator in a seed funding round after participating in its accelerator cohort last summer.
The London-headquartered company provides virtual phone numbers to individuals and businesses using WiFi or mobile internet.
“Businesses are continually up against it to find cost efficiencies, while creating more hybrid working environments for their people,” said Nick Browne, co-founder of Devyce.
“Devyce makes it easier and cheaper for companies to help their people make best use of the devices they already have at their disposal, wherever they are located.”
The telecoms startup’s seed round was led by Y Combinator. It called in further investment from Garage Capital and FoundersX Ventures, along with a group of angels including Sendbird CEO and founder John Kim.
Virtual phone numbers are nothing new. But two of Devyce’s co-founders – Browne and Leo Bartle – majority own a mobile network operator, which its investors say they can use to provide a cheaper alternative.
Devyce was also co-founded by Edward Clayton in 2020.
Helen Liang, FoundersX Ventures, said: “Owning their own mobile network puts leagues between Devyce’s founders and their nearest competition in the digital telecoms market.
“It is a money-can’t-buy asset, as internet companies globally know having tried and failed to create mobile networks of their own.”
Founded in 2020, Devyce will use the funding to launch in further European markets and hire more product engineers.