Micromax Makes its First International Investment in MiMedia
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Indian handset manufacturer, Micromax has made an undisclosed amount of investment in US-based startup MiMedia which offers online back up and cloud storage services. MiMedia enables consumers to access all of their personal content (photos, videos, music, files), on any device, whenever they want. Excluding this round, MiMedia had raised $5.4 million in funding across 3 rounds.
“While we are not disclosing the terms of the deal, the strategic investment in MiMedia represents Micromax’s first outside of India. Micromax has set-up a mergers and acquisitions team under Kumar Shah to look at technology startups across the US, Europe, Israel and India,” the company said in a statement. The company would start to focus on making investments in software startups, as it looks to continue to differentiate its smartphones.
MiMedia also launched its app for Android and iOS users.
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