Home-grown handset maker Micromax makes its first overseas investment

Home-grown handset maker Micromax Informatics said on Monday that it has invested in MiMedia, a consumer cloud provider that enables consumers to access all of their personal content on any device.

The investment in MiMedia represents the company's first venture outside of India. Micromax said it has created a mergers and acquisitions team under Kumar Shah to look at tech startups across US, Europe, Israel and India.Micromax cofounder Rahul Sharma said the company would begin to focus on investing in software startups, as it looks to continue to differentiate its smartphones.