Tata Capital private equity fund invests $5 million in Alef Mobitech

MUMBAI: Tata Capital Innovations Fund (TCIF), a Private Equity Fund managed by Tata Capital, today announced an investment of around $5 million in Alef Mobitech Solutions Private Limited, a fully owned subsidiary of Alef Mobitech Inc, a next generation Mobile Internet enhancement pioneer.

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.

Alef Mobitech Inc, is headquartered in USA has pioneered a Mobility-Cloud interconnect platform and solution suite which enhances user engagement by increasing relevance and responsiveness of Mobile Internet applications.

“The consumption of data in general and videos in particular, is increasing exponentially,”said Vineet Chadha, Partner, Tata Capital Innovations Fund. “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.”

“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,” said Ganesh Sundaram, Founder of Alef Mobitech.