1. Onward Mobility Raises Rs 18Cr From IndoUS, Qualcomm Ventures

    Mumbai-based mobile application and distribution firm Onward Mobility has raised Rs 18 crore from IndoUS Venture Partners and Qualcomm's venture capital investment arm, Qualcomm Ventures. Mumbai-based investment bank Consort Capital was the advisor for the deal. The funds will be utilised to expand product offerings, retail distribution reach and for hiring key employees. This is the series A round of funding for the firm, which had raised over $1 million in 2010 from the network of angel investors Mumbai Angels.  read more
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    1. Markets:

      Bollywood, Gaming, Maps/Local, Mobile, Outsourcing, Social Networking, Telecom, Travel, Video
    2. Financing:

      Acquisition, Funding
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      Jobs, Reports
  2. Quotes

    1. Qualcomm has made a strategic investment in Onward Mobility, in keeping with our objective to support the growth of 3G applications and services ecosystem.
      By Karthee Madasamy
    2. We are better off, selling mobile apps through an offline route than online.
      By Ajay Menon
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