Tata Capital Innovations Fund invests $5 million in Alef Mobitech

MUMBAI: Tata Capital Innovations Fund (TCIF), a private equity fund managed by Tata Capital, has invested $ 5 million in Alef Mobitech Solutions Private Limited, a fully-owned subsidiary of Alef Mobitech Inc.

Headquartered in USA with offices in New Jersey, Mumbai and Pune, Alef Mobitech has developed a Mobility-Cloud interconnect platform and solution suite which enhances user engagement by increasing relevance and responsiveness of mobile internet applications. These transformative solutions, in addition to enabling the delivery of richer content over mobile data networks, also open up new opportunities for the company to rapidly launch innovative mobile internet services across both consumer and enterprise business verticals.

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.

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

Commenting about securing the investment, Ganesh Sundaram, Founder of Alef Mobitech said, “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. We are proud to associate with the Tata Capital Innovations Fund on our journey. The Fund's leadership, global vision, and focus on innovation will provide us tremendous momentum towards acquiring a leadership position in the mobile internet space.”