Tata Capital Innovation Fund Invests $5 Mn In Alef Mobitech Solutions

Mumbai-based mobility-cloud interconnect platform & solution suite company, Alef Mobitech Solutions Pvt Ltd, has raised about $5 Mn in a funding round from Tata Capital Innovation Fund (TCIF) – a private equity fund managed by Tata Capital.

The raised capital will be used to strengthen Alef Mobitech’s business development, marketing, research and development initiatives in order to establish a leadership position in the mobile internet space, reported ET.

Founded by Ganesh Sundaram, Alef Mobitech Solutions is a fully owned subsidiary of US-based Alef Mobitech Inc. The company it enhances user engagement by increasing relevance and responsiveness of mobile internet applications.

It aims to transform the way people communicate, shop, work, play, and entertain.

Speaking on the development, Vineet Chadha, Tata Capital Innovations Fund Partner said, “The consumption of data in general and videos in particular is increasing exponentially. While smartphones have become ubiquitous, the current mobile technologies available are unable to handle the enormous growth in mobile data.”

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