In a statement today, Mauj Telecom announced that it has received an investment of $10 million from three VCs – WestBridge Capital Partners, Intel Capital and Sequoia Capital.

WestBridge Capital Partners led the investment round, and Sandeep Singhal, Managing Director, WestBridge, will join the board of Mauj Telecom. Intel Capital, Intel Corporation’s venture investment program, focuses on making minority equity investments to grow the Internet economy in support of Intel’s strategic interests. Sequoia Capital is a leading venture investor in Silicon Valley and in India it co-invests with WestBridge (for instance in Bharti Telesoft). Sequoia has previously invested in companies such as Google, Yahoo and Cisco.

Mauj is a part of the People Group, which owns Shaadi.com and Fropper.com.

Anupam Mittal, CMD of People Group, said, “Today is a big day not just for us but also for the Mobile VAS Industry. We understand this is the largest deal in this space in India and we expect that it will trigger many more.

Singhal said, “Mauj Telecom has built a very strong leading position in the mobile value added services market in a very short period of time. We believe that mobile value added services are poised for rapid growth globally and are excited to be a partner in Mauj Telecom’s continued rapid growth and helping them further dominate the market.”

“Wireless is experiencing explosive growth in India. Mauj Telecom’s focus on Mobile Value Added Services presents an opportunity for significant growth,” said Kumar Shiralagi, Director for Intel Capital in India. “Our investment in Mauj Telecom provides Intel Capital with the opportunity to share what we have learned through our investments worldwide as we work together with them to build their business.

Read our previous post on the investment

WestBridge Capital, Intel And Sequoia Capital To Invest In Mauj Mobile

Posted on 02/23/06, 4:49 PM
in: Deals, Main Page, Venture Capital
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