Mauj Telecom gets $10 mn boost to consolidate mobile value added services leadership

Mauj Telecom gets $10 mn boost to consolidate mobile value added services leadership

Author | exchange4media Mumbai Bureau | Friday, Feb 24,2006 8:11 AM

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Mauj Telecom gets $10 mn boost to consolidate mobile value added services leadership

Mauj Telecom (People Infocom Pvt Ltd), India’s leading wireless solutions provider, has announced an investment of $10 million by WestBridge Capital Partners, Intel Capital and Sequoia Capital. This is a step by Mauj towards consolidating its leadership position as a mobile value added service provider.

Anupam Mittal, CMD, People Group, said, “Today is a big day not just for us but also for the Mobile VAS industry. We understand this is the largest deal in this space in India and we expect that it will trigger many more. We are especially thrilled that we are backed by a ‘dream team’ – WestBridge, Intel and Sequoia – names that require no introduction. Their support is a testament to what the team at Mauj has been able to envision and build. The capital will be used to grow the business organically and through acquisitions.”

Arun Gupta, CEO, Mauj Telecom, said, “This is the first of many important milestones for Mauj Telecom to emerge as the largest Mobile VAS company in this part of the world. With the support of our new partners, we are confident that we will execute on the strategy chalked out by us. Mauj Telecom will use the capital to expand aggressively globally in the areas of mobile music and mobile gaming.”

Sandeep Singhal, Managing Director, WestBridge Capital Partners, will join the board of Mauj Telecom. Speaking on the investment, Singhal said, “Mauj Telecom has built a very strong leading position in the mobile value added services market in a very short period of time. We believe that mobile value added services are poised for rapid growth globally and are excited to be a partner in Mauj Telecom’s continued rapid growth and helping them further dominate the market.”

“Wireless is experiencing explosive growth in India. Mauj Telecom’s focus on mobile value added services presents an opportunity for significant growth,” said Kumar Shiralagi, Director, Intel Capital in India. “Our investment in Mauj Telecom provides Intel Capital with the opportunity to share what we have learned through our investments worldwide as we work together with them to build their business,” he added.

Mauj Telecom is a mobile entertainment company with focus on mobile music, gaming, mobile commerce and mobile messaging and it develops services on all leading platforms including J2ME, Smartphone, BREW, Symbian, SS7 and I-Mode and is partnered with the leading wireless operators and portals in the world.

WestBridge Capital Partners led the investment round. Intel Capital, Intel Corporation’s venture investment programme, focuses on making minority equity investments to grow the Internet economy in support of Intel’s strategic interests. Sequoia Capital is the world’s leading venture investor, especially in new economy businesses, and has previously invested in companies such as Google, Yahoo and Cisco.

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