Telecom-as-a-Service Platform OXIO Closed $40 Million Series B Funding Round Led by ParaFi Capital

OXIO, a telecom-as-a-service platform, closed a $40 million Series B round of funding led by ParaFi Capital with participation from Ascend, Leydon, Multicoin Capital and others. The funds raised will be used to accelerate OXIO's operations in Mexico, expand its network to the U.S. and Brazil, and expand its product and engineering teams in the U.S. and Mexico. Oxio is reportedly taking a crypto twist on non-finance applications in the realm of bandwidth and connectivity, offering a white-label product that allows any brand to launch mobile services.