The startup aims to use the London-based program to improve its product and develop actionable growth strategies. At the end of the year Widerfi will compete with another 217 teams for the prize of £500,000 and $1,000,000.
To put it simply, Widerfi offers a new mobile internet model for travellers. It claims to combine the best of WiFi and mobile data to ensure you a local 3G and LTE based connectivity wherever you go, bypassing roaming charges. Widerfi is the first Lithuanian startup to participate in MassChallenge accelerator, which will be simultaneously held in Boston and London.
“We are developing an international telecommunications product therefore it is particularly important for Widerfi to be where our partners are and where many customers come. I hope that an accelerator like MassChallenge will help us save a lot of time in terms of partnership development,” says Widerfi CEO D. Maikštėnas.
Widerfi offers international travellers unlimited mobile internet for a flat rate without having to change their SIM card. They created a mobile internet LBO (Local Break Out) solution, that was successfully tested in Lithuania, known as Cheap Data Communications. The development team is based in Lithuania, with a business development office in London. They have raised $170,000 seed investment from Practica Capital and Nextury Ventures. Participation in MassChallenge is expected to help fuel their international expansion.
MassChallenge is an London- and Boston- based startup accelerator, established in 2010. So far its alumni have raised $ 947.3 million total funding and 5,105 jobs. With more than 10 startups competing per spot, joining MassChallenge is a significant achievement for Widerfi. There will only be one more Baltic startup in the program – Estonian mobile ticketing and validation for public transit Jiffi.
“The 200+ startups that will be entering our 2015 accelerator include many of the highest-impact startups in the world,” said MassChallenge CEO John Harthorne. “From Boston to London to Israel and beyond, the global distribution of these early-stage companies highlights the universal need and opportunity to provide startups with access to key people and resources to help them launch and succeed.”