OnMobile Raises $35 Million From A Group Of Investors Including Goldman Sachs

The Economic Times: Mobile value added services company OnMobile has raised $35 million in fresh round of funding from a group of investors including Goldman Sachs. The report suggests that the transaction has valued OnMobile at $250-300 million. OnMobile CEO and co-founder Arvind Rao has confirmed the deal. He also added that there are no PE firms (or VC firms?) involved in the investment. Nor has any existing shareholders divested their stake. The company is incubated by Infosys Technologies, which has invested $5 million for 12-13 per cent stake in the company. This values Infosys stake in OnMobile at around $30 million. The other investor in the company is Argo Global Capital.
OnMobile Close To Raising $35 Million In Third Round From Goldman, DB


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