Kanwal Rekhi's Inventus Capital has made its first investment in mobile digital media company Telibrahma Convergent Communications. Inventus has invested along with Ojas Venture partners, with both the funds putting in $1 million each. Inventus Capital led this Series A round of funding. The firm had received seed funding of Rs 1.6 crore from Karnataka Information Technology Venture Capital Fund (KITVEN).
Bangalore-based Telibrahma is an innovative mobile digital media company. The company allows brands to deliver content to customers. Telibrahma reaches users mobiles through Bluetooth networks which it has set up in shopping malls, retail stores, shopping streets and sporting stadia across the country.
Telibrahma has three products -Genie Tik, EReach and MobiLogiX. Some of the partners of Telibrahma are Motorola, RIM, Bizpro and Microsoft. During IPL, Telibrahma had tied up with Vijay Mallya's Royal Challengers to provide scores and analysis at the Chinnaswamy cricket stadium in Bangalore.
Samir Kumar (Inventus) and Pavan Krishnamurthy (Ojas) will join Telibrahma's board.
"We're confident that our deep operating experience, and mentoring of over a thousand entrepreneurs, will help us work closely with the entrepreneurs and create a valuable company," said Kanwal Rekhi, co-founder, Inventus Capital Partners, on the investment.
"We're seeing rapidly increasing customer adoption of our Bluetooth-based solutions, and with this investment, we're confident of accelerating growth, and cementing our position as the leading mobile digital media company in India," said Suresh Narasimha, co-founder and CEO of Telibrahma.
Inventus has a $125 million fund, from which it plans to invest $1 to $10 million in 15-20 early-growth companies over the next few years.