Micromax to Investment in MiMedia Consumer Cloud

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Micromax announced its investment in MiMedia, a consumer cloud provider that enables consumers to access their personal content such as photos, videos, music, files on any device.”This is the first international investment by Micromax as part of its strategic vision of building a robust ecosystem of world class devices and services through innovative technologies from around the world to its consumers,” the company said in a release.

MiMedia enables consumers to access all of their personal content (photos, videos, music, files) on any device at any time. Micromax co-founder Rahul Sharma said that the company would start to focus on making investments in software startups, as it looks to continue to differentiate its smartphones.

“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 statement added.

This is the first international investment by Micromax, which is gearing up for an initial public offering (IPO). The investment in MiMedia is part of its strategic vision of building an eco-system of devices and services, said Micromax in a statement. Micromax has set-up a mergers and acquisitions team under Kumar Shah to look at technology startups across the US, Europe, Israel and India.

“We invest in companies that are providing revolutionary solutions for our customers and give them scale and access to our ecosystem.  As a mobile first country, consumers’ personal media needs to be easily accessed, organized and shared amongst family and friends,” Rahul Sharma said.

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