Tata Capital Innovations Fund invests USD 5 million in Alef Mobitech Solutions Pvt. Ltd.
5th January, 2016, Mumbai: Tata Capital Innovations Fund (TCIF), a Private Equity Fund managed by Tata Capital, today announced an investment of around USD 5 million in Alef Mobitech Solutions Private Limited, a fully owned subsidiary of Alef Mobitech Inc, a next generation Mobile Internet enhancement pioneer.
Headquartered in USA with offices in New Jersey, Mumbai and Pune, Alef Mobitech Inc. has pioneered a Mobility-Cloud interconnect platform and solution suite which enhances user engagement by increasing relevance and responsiveness of Mobile Internet applications. These transformative solutions, in addition to enabling the delivery of richer content over mobile data networks, also open up new opportunities to rapidly launch innovative Mobile Internet services across both consumer and enterprise business verticals.
The investment by TCIF will help Alef Mobitech Solutions strengthen its business development, marketing and R&D initiatives to establish a leadership position in the Mobile Internet space.
Speaking on the investment, Mr. Vineet Chadha, Partner, Tata Capital Innovations Fund said, "The consumption of data in general and videos in particular, is increasing exponentially. While smart phones have become ubiquitous, the current mobile technologies available are unable to handle the enormous growth in mobile data. Alef's solution enhances customer experience on mobile networks by providing rich, high quality mobile content along with superior quality interactions. The Fund liked the strong product domain knowledge of the team and is pleased to participate in Alef Mobitech's growth journey".
Dr. Ganesh Sundaram, Founder of Alef Mobitech said, "Alef is committed and driven to create an enabling ecosystem to bring about transformative changes, poised to significantly impact the trillion dollar Mobile Internet market. We are proud to associate with the Tata Capital Innovations Fund on our journey. The Fund's leadership, global vision, and focus on innovation will provide us tremendous momentum towards acquiring a leadership position in the Mobile Internet space."
About Tata Capital Innovations Fund
Tata Capital Innovations Fund (TCIF) is registered with SEBI as a domestic venture capital fund under the SEBI Regulations. The Fund is sector agnostic and invests in companies which have sustainable technology advantage. TCIF has made seven investments till date including Alef Mobitech Solutions. Tata Capital Limited, the financial services arm of the US$ 108 billion Tata Group of companies, is the investment manager of the Fund.
About Alef Mobitech Inc.
Alef Mobitech Inc. is a New York area next generation Mobile Internet enhancement pioneer, with offices in New Jersey, Mumbai and Pune. Alef promises to transform the way people communicate, shop, work, play, and entertain, while empowering the realization and expansion of the Trillion Dollar potential of the Mobile Internet economy, globally. Alef's software-defined managed overlay network and suite of services enables Mobile Network Operators, Over The Top providers and Mobile Enterprises to realize superior business outcomes.
Alef Mobitech Inc. was co-founded by Dr. Ganesh Sundaram, Mobility industry expert and Bell Labs Fellow, and Steve Spencer, a successful serial entrepreneur in the Mobile Internet space.
For further information, please contact:
Stuart Pereira - Asst. Vice President - Corporate Communication | Contact: +91 9029080385 | Email: Stuart.Pereira@tatacapital.com
Rashmi Shetty - Account Director | Contact: +91 917738076387 | Email: Rashmi.Shetty@edelman.com
Abdul Khan - Chief Marketing Officer | Email: email@example.com
Steven Spencer - Chief Operating Officer | Email: firstname.lastname@example.org