(Times of India via NewsEdge) OnMobile, the Bangalore-based telecom service provider has bagged about $28 million in funding from three foreign financial houses.
German banking major Deutsche Bank, and US-based Goldman Sachs and Polygon Investment Partners bought an undisclosed stake in OnMobile.
The company provides solutions for value-added services on the mobile front such as content distribution, interactive media portals, direct marketing, and m-commerce.
OnMobile was spun out of software house Infosys to build and deploy innovative software applications for the wireless Internet industry.
OnMobile plans to use the funding to strengthen their international presence and invest in to more research and development activities, a company release said.
'There is a significant opportunity to export the innovations and market learning from our India deployments overseas, and to bring the latest innovations from around the world into India,' said Arvind Rao, co-founder and CEO of OnMobile.
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