Leadership Transition at Excitel Broadband
Vivek Raina has stepped down from his role at Excitel Broadband, ending an operational association that began when the company was founded in 2015.
In a public statement shared on LinkedIn, Raina described the move as a natural leadership transition after more than a decade of building the company. However, he confirmed that he will continue supporting the business as a shareholder.
During his tenure, Excitel expanded from an early-stage startup into a large fiber broadband network serving close to one million users across more than 50 cities in India.
Building a Fiber Broadband Network
Raina co-founded Excitel alongside entrepreneurs Nikolai Gorchilov, Victor Francess, and Plamen Petkov.
The company initially focused on expanding broadband access in urban areas. By 2017–2018, Excitel transitioned entirely to fiber infrastructure, positioning itself as a high-speed internet provider focused on households.
Through partnerships with thousands of regional operators and service partners, the company gradually built a wide distribution network across major cities and emerging markets.
Financial Growth and Funding Support
Excitel has raised roughly $16 million in funding from investors including NEVEQ, Impetus Capital, and Blackpeak Capital.
Financial filings show that the company recorded a 24 percent increase in revenue to Rs 486.84 crore in FY24. At the same time, losses narrowed to Rs 120 crore from Rs 155.12 crore in the previous year.
These figures reflect continued growth in India’s broadband market as demand for high-speed connectivity expands across households and digital services.
New CEO to Lead Next Phase
The leadership transition follows the appointment of Varun Pasricha as chief executive officer, beginning in March 2026.
Pasricha previously served as chief operating officer at Excitel for more than seven years. He joined the company in 2018 and brings nearly two decades of professional experience.
Before joining Excitel, he worked with organizations including Zomato, G4S, and Max Healthcare.
His promotion signals a generational shift within the company’s management structure as Excitel prepares for its next stage of growth.
Raina’s Future Plans
Following his departure from daily operations, Raina said he plans to take a short break before returning to entrepreneurship.
He intends to focus on building new businesses and mentoring young founders through Launchpad Kashmir.
The initiative, launched in 2024, supports early-stage startups in Jammu and Kashmir. Raina founded the incubator alongside entrepreneurs and industry leaders, including Namrata Kaul, Khalid Wani, and Kunal Harisinghani.
Launchpad Kashmir previously announced plans to incubate 24 startups from the region.
A Career in Telecom and Broadband
Before starting Excitel, Raina spent more than two decades working in India’s telecom and broadband sector.
His career included leadership roles at Digicable Network India Pvt Ltd, Hathway, and Reliance Communications.
He began his professional journey in 2001 at Hathway as a business development officer and gradually moved into senior regional and strategic roles.
That experience eventually led him to co-found Excitel, where he helped build one of India’s growing fiber broadband networks.
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