Mauj Tele gets $10 mn venture capex funding

Mobile value-added solutions provider Mauj Telecom has received $10 million venture capital (VC) funding from a consortium. This is the largest funding in this space.

The consortium is led by WestBridge Capital Partners, while Intel Capital and Sequoia Capital are the other members of the consortium.

The company intends to use the money to expand its business-both organically and inorganically, mainly in mobile gaming and mobile music.

"Mauj Telecom is a leader in the mobile value-added services market. We believe that these services are poised for rapid growth globally and are excited to partner Mauj," said Sandeep Singhal, managing director, WestBridge Capital, in a release here today.

Singhal is slated to join Mauj Telecom board. Mauj is the wireless division of People Infocom, which works in the mobile entertainment space.

"With the support of our new partners, we will be able to execute our growth plans. Mauj Telecom will use this capital to expand globally," Mauj Telecom CEO Arun Gupta said.

According to Intel Capital Director Kumar Shiralagi, "Wireless is experiencing explosive growth in India. Mauj's focus on mobile value-added services presents an opportunity for significant growth."