US-based cloud storage startup MiMedia receives undisclosed amount of investment from Indian handset maker Micromax. MiMedia is an online back up and cloud storage services provider, which allow users to upload their content (photos, videos, music, files) on the platform and can access them on any device, whenever they want.
“While we are not disclosing the terms of the deal, the strategic investment in MiMedia represents Micromax’s first outside of India. Micromax has set-up a mergers and acquisitions team under Kumar Shah to look at technology startups across the US, Europe, Israel and India,” the company said in a statement.
It’s worth mentioning that, this is the Micromax’s first international investment, while it has made couple of domestic investments which include investment in Gurgaon-based travel search marketplace, Ixigo and in a local analytics company for a ‘significant minority stake’, without revealing the name of the company.