Excitel Broadband’s cofounder Vivek Raina has resigned from the company with long-term ambitions of building new businesses
Raina claimed that Excitel has served almost 1 Mn users across 50 Indian cities spread across the country since its inception
Prior to setting up Excitel, Raina worked with Digicable Network India for about six years as regional head
Delhi NCR-based internet service provider Excitel Broadband’s cofounder Vivek Raina has resigned from the company with long-term ambitions of building new businesses.
“I believe this is the right time for a leadership transition, and I am confident that the Founders’ vision and operational expertise of the younger management will take Excitel Broadband to even greater heights. I will continue to support Excitel as a shareholder,” he said.
Raina cofounded Excitel along with Varun Pasricha in 2015. The startup fully transitioned to fiber by 2017-18, and has been offering high-quality network and constant high-speed connectivity to Indian households.
Raina claimed that the brand has served almost 1 Mn users across 50 Indian cities spread across the country since its inception. The startup raised over $14.4 Mn in funding from investors like NEVEQ, Impetus Capital, BlackPeak Capital, among others.
On the financial front, Excitel’s revenue rose 24% to INR 486.84 Cr in FY24, and cut its losses to INR 120 Cr from INR 155.12 Cr in FY23.
Prior to setting up Excitel, Raina worked with Digicable Network India for about six years as regional head. Besides, he also held managerial positions at Hathway and Reliance Communications during his 25-year long career.
In his LinkedIn post he mentioned that Raina will take a short break after leaving Excitel and he will continue to build new businesses from scratch while fostering youngsters who are involved in building new businesses through initiatives like Launchpad Kashmir.
For context, Raina, along with Vivriti Capital director Namrata Kaul, Western Digital senior director Khalid Wani, FlapKaCCO Kunal Harisinghani, among others, launched Launchpad Kashmir as an incubator to foster startups in Jammu & Kashmir in 2024. The initiative earmarked an undisclosed amount of funds to incubate 24 early stage startups based out of the union territory by March 2025, back then.
The development comes days after Excitel elevated chief operating officer Varun Pasricha to assume the role of CEO of the company, effective March 2026.
Based on his profile, Pasricha has been Excitel COO for more than seven years. With an overall experience of two decades, he has worked with companies like Eternal’s Zomato, G4S and Max Healthcare, previously.
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