News

Truecaller Wants To Raise Over $100 Million In Stockholm IPO

Experts suggest that the upcoming IPO could take the company’s valuation to $3 billion.

Published

4 years ago

September 19, 2021

Joanna Melki

Truecaller

Truecaller, a smartphone app that identifies unknown callers has announced that it would like to raise $116 million in an initial public offering (IPO) on Nasdaq Stockholm.

The company will be listing its Class B shares (common stocks or preferred stocks offering fewer advantages than Class A) by the end of the fourth quarter of this year.

“One of our objectives this year has been to prepare Truecaller for an IPO. Thanks to the strong feedback that we’ve received from potential investors, it feels very exciting to take the next step in this process,” commented Alan Mamedi, CEO of Truecaller.

When Truecaller completed a previous funding round in 2018, the company was valued at more than $680 million. Now, some experts are saying that the upcoming IPO could take its valuation to $3 billion.

The money raised in the IPO will be used for future growth, for general corporate purposes, and to provide strategic flexibility for opportunistic acquisitions, as explained by Truecaller in the official press release.

Truecaller was founded back in 2009, and it currently has more than 400 employees. Its user base is almost 300 million large, and most of its monthly active users (92 percent) are located in India. In fact, 720,000 of its 1.2 million Premium subscribers were from India, according to May 2020 statistics. Another major market for Truecaller is the MENA region where traditional phone directories have little presence.

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Unlike many other similar solutions, Truecaller is a complete communication solution that eliminates the needs to switch to other apps, providing a spam-free inbox for text messages and an intelligent dialer that can reveal the names of unknown numbers.

The Premium version of Truecaller brings to the table a number of other features, including the ability to record phone calls and track upcoming bills and other important items.

News

AltoVolo Opens Orders For Limited Edition Sigma eVTOLs

Early buyers can now reserve build slots for AltoVolo’s 500-mile hybrid aircraft through a new online configurator.

Published

6 days ago

November 1, 2025

Nour Nasir

AltoVolo

AltoVolo has started taking pre-orders for its first electric vertical take-off and landing aircraft, the Sigma, moving the startup closer to commercial rollout. Customers can now secure a build slot with a £860 deposit and customize every detail online — from paintwork to seatbelt stitching. It’s the first configurator of its kind for a civilian eVTOL, mirroring how luxury car brands let clients tailor performance models before production.

The Sigma runs on a hybrid-electric tilting jet system built for long range and low noise. It can travel up to 500 miles at a 220-mph cruise, and is over 80% quieter than a helicopter. The three-seater weighs just 980kg and can maintain stable flight even if one jet fails. Safety systems include triple-redundant controls, thrust-vectoring stability and a ballistic parachute.

“We will be delivering an ultra-refined hybrid electric aircraft,” said founder and CEO Will Wood. “We believe there are thousands of customers for this type of cutting-edge technology”.

The first 100 units will come with exclusive materials and finishes. AltoVolo is also setting up a global service and maintenance network, with early planning for overhaul schedules already underway. The company’s focus on ownership experience echoes its ambition to anchor itself alongside established aviation brands rather than pure tech ventures.

To help new owners train, the company has built a full-scale simulator that replicates the Sigma cockpit in carbon fiber and leather. Pilots can log time toward a license using the system, aligned with the new US MOSAIC rules that ease certification for powered-lift aircraft. Certification work in Europe and the UK continues in parallel, signaling growing international alignment around light sport and eVTOL regulation.

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Noise inside the cabin has become another design focus. Engineers are refining internal vibration levels and developing a responsive soundscape that shifts with each jet’s power load — part feedback, part theatre.

Urban air mobility projects across the Gulf and elsewhere are pushing regulators and manufacturers to meet in the middle. Dubai, Riyadh and Doha have each outlined plans for air taxi corridors this decade. AltoVolo’s hybrid Sigma, sitting between electric promise and aviation realism, looks built for that middle ground.