IMImobile Raises $13 Mln
Mobile and online value-added services provider, IMImobile, has raised $13 million (around Rs 60 crore) in a financing round led by Sequoia Capital and existing investor First Mark Capital.
Apart from helping to beef up their cloud infrastructure, “The VC funding will be used to make acquisitions in Europe and the US. We are targeting to close one buyout by calender 2010,” founder and chief executive officer of IMImobile, Vishwanath Alluri, told Business Standard.
IMIMobile claims tht its services are currently accessible to 500 million subscribers of over 40 operator customers in 66 countries. The company has its offices in Asia, Europe, Latin America and the Middle East. Customers include leading operators and media companies such as Airtel, Vodafone, Virgin Mobile, Google, Reuters and Yahoo.
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Filed under: Deal Tracker
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