Micromax has announced that it has made some strategic investment in a cloud storage startup company called MiMedia Inc. The strategic investment in MiMeida is the Micromax’s first investment outside India and the deal terms hasn’t revealed yet.
Commenting on the investment, Mr. Rahul Sharma, said:
“The world is moving to smart devices and, through these strategic investments, we are ensuring that our consumers relish services that enrich their experience. We invest in companies that are providing revolutionary solutions for our customers and give them scale and access to our ecosystem. As a mobile first country, consumers’ personal media needs to be easily accessed, organized and shared amongst family and friends. We saw this vision and much more in MiMedia.”
Adding further, Chris Giordano, CEO of MiMedia, said,
“We love India and what is happening with digital in that special country. We are proud to have one of India’s leading tech companies now as a strategic investor. MiMedia thinks only about consumers and providing the best experience with their personal media. In Micromax, we saw a similar vision – an incredible company that brings superior phones, at affordable prices, with best of breed software to offer a tremendous value to all of India and their expanding footprint across the globe.”
“This is the first international investment by Micromax as part of its strategic vision of building a robust eco-system of world class devices and services through innovative technologies from around the world to its consumers,” as said in a company in a press release.
If you do not know, MiMedia is based out of New York and it offers cloud platform to consumers for storing & accessing all their personal content including photos, videos, music, files on any device whenever they want.