From our sister site ContentSutra.com: IMImobile, a leading Indian enabler of mobile content services, raised $10 million in venture capital from a Silicon Valley-based VC fund Pequot Ventures. This is the second round of funding for IMImobile, which raised 3.7 million sterling late last year from UK-based NewMedia Spark. The current funding round will increase Spark’s book value for the investment from 3.7 million sterling to 12.3 million sterling.
This is the fourth publicly announced VC deal in the Indian mobile content space in the last one year. Last week, Kleiner Perkins Caufield & Byers and Sherpalo Ventures had announced an investment of $5 million-plus in m-commerce company Paymate. Early this year, Sequoia Capital India invested $10 million in Mauj Telecom. They also funded to the tune of $1.5 million in Mumbai-based Nazara Technologies.
Subscriber content
?
Subscriber content comes from Gigaom Research, bridging the gap between breaking news and long-tail research. Visit any of our reports to learn more and subscribe.
Advertisement
Advertisement
Advertisement
Comments have been disabled for this post