Indian smartphone maker Micromax Informatics announced its investment in MiMedia, a consumer cloud provider that enables consumers to access their personal content such as photos, videos, music, files on any device.
This is the first international investment by Micromax, which is gearing up for an initial public offering (IPO).
The investment in MiMedia is part of its strategic vision of building an eco-system of devices and services, said Micromax in a statement.
Rahul Sharma, co-founder of Micromax, said the company would focus on making investments in software startups.
Micromax has set-up a mergers and acquisitions team under Kumar Shah to look at technology startups across the US, Europe, Israel and India.
“We invest in companies that are providing revolutionary solutions for our customers and give them scale and access to our ecosystem. As a mobile first country, consumers’ personal media needs to be easily accessed, organized and shared amongst family and friends,” Rahul Sharma said.
editor@telecomlead.com
