IMImobile, a leading enabler of mobile content services, raised $10 million in venture capital from a Silicon Valley-based VC fund Pequot Ventures. This is the fourth publicly announced VC deal in the Indian mobile content space in the last one year (and more will come; we know that another deal is in the offing).
This is the second round of funding for IMImobile, which raised 3.7 million sterling late last year from UK-based NewMedia Spark. The current funding round will increase Spark’s book value for the investment from 3.7 million sterling to 12.3 million sterling.
Last week, Kleiner Perkins Caufield & Byers and Sherpalo Ventures had announced an investment of $5 million-plus in Paymate, a mobile commerce company floated by ex-founders of Coruscant Tec. Early this year, Sequoia Capital India invested $10 million in Mauj Telecom. They also funded to the tune of $1.5 million in Mumbai-based Nazara Technologies who own mobile content licences of Sachin Tendulkar, Virender Sehwag and Mehndra Singh Dhoni.