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One97 Communications Raises Series A Funding From SAIF Partners, Silicon Valley Bank

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Delhi-based mobile value added service company One97 Communications has received Series A funding from SAIF Partners. Silicon Valley Bank has also participated in the current round with a minority contribution. The stake sold or investment details are undisclosed. We learn from independent sources that the investment could be in the range of $8-10 million. Vibhor Mehra, Principal, SAIF Partners, is joining the board of One97.
The company provides telecom value added services to enterprises and consumers, and also powers IVR services of corporates. It