Matrix Cellular (International) Services Pvt. Ltd.

Matrix Cellular provides international communication solutions, specializing in physical SIM cards and eSIM technology, ensuring seamless connectivity for global travelers. Founded in 2005 in New Delhi, India, Matrix Cellular (International) Services Pvt. Ltd. focuses on offering international communication solutions.

The company operates independently and has successfully completed 4 deals. Recently, it raised USD 30. 00 mn in a GROWTH round from CX Partners, bringing its total funding to USD 30. 00 mn.

It is led by CEOs Agent Smith, Anish Khanna, and Gaurav Khanna. Matrix offers a range of international communication solutions, including physical SIM cards and eSIM technology, designed to facilitate seamless connectivity for travelers. The core product offerings cater specifically to the needs of individuals traveling abroad, providing prepaid roaming options that minimize excessive international roaming charges. The eSIMs allow users to activate or switch cellular plans without the hassle of physically swapping SIM cards, enabling instant setup via QR code scanning.

The services target a diverse clientele, including leisure travelers, business professionals, and students, with offerings tailored to specific travel requirements and geographical destinations. Matrix's products are marketed and sold in multiple international markets, ensuring that users can stay connected whether they are traveling to Asia, Europe, or North America. In 2022, Matrix generated revenue amounting to USD 7. 10 mn.

The company also reported an EBITDA of USD -446,707. 90 for the same year. Matrix generates revenue primarily through the sale of its SIM and eSIM products, which are structured as prepaid plans that allow users to pay for services in advance. Clients can purchase these plans directly through the company’s online platform, where they can select options based on their travel needs and destination countries.

The transaction structure involves direct-to-consumer sales, providing a streamlined purchasing experience without intermediaries. Each plan typically includes features like unlimited WhatsApp calling and high-speed data, designed to cater to the specific communication needs of travelers. The company also offers optional services such as travel insurance, enhancing the overall value proposition for customers. Matrix Cellular is focused on expanding its product offerings and geographical reach.

Future plans include launching innovative eSIM technologies and enhancing existing services tailored for international travelers, with specific market expansions planned for Europe and North America by the end of 2024. The recent funding of USD 30. 00 mn will be utilized to support these initiatives and improve operational capabilities. Recently, CX Partners exited its partial stake in the company.