OnMobile To Raise $30-100 Million From Silicon Valley Investors

Myiris.com: Infosys-supported mobile applications and software company OnMobile is in talks with Silicon Valley investors to raise some $30-100 million. (Myiris headline is misleading; it talks about raising $1 billion, which maybe a miscommunication). The company CEO Arvind Rao has said that the fund raising deal will be finalised in two months. OnMobile is a company seeded on the Infosys Technologies campus and the IT major holds some 12-14 per cent stake.
OnMobile has an annual revenue of $50 million.

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