Here is another deal. The investment arm of the $329-million Salora Group has made an undisclosed investment in a Mumbai-based mobile applications and multi-lingual content company Enable M.
The Salora Group - which is currently involved in the manufacture of colour TVs and dry cells through international JVs - has a fund which will invest in early stage ventures. Enable M will use the money for marketing and product expansion.
Enable M has content distribution agreements with operators and aggregators in some nine countries, and it develops content in over 22 languages.
Salora is promoted by the Jiwarajka family, and they have some JVs going with Matsushita, Ericsson and Hewlett Packard Financial Services.