The Hindu Business Line : SAIF invests in One97 Comm

SAIF Partners, a SoftBank arm, has infused series A funding into the Delhi-based One97 Communications. Alongside, SVB Financial group participated in the funding with minority contribution. One97 offers short code SMS service, 3030 and value-added services. With this investment, SAIF Partners has extended its portfolio to more than 10 companies in India, which include National Stock Exchange, IL&FS Investmart, Makemytrip.com, HomeShop18, JustDial and SlashSupport amongst others. The Principal, SAIF Partners, Mr Vibhor Mehra, in a statement said: "One97 has an interesting transaction driven business model, backed by a very passionate founder. We will be leveraging our relationships with value-added service providers portfolio companies and telcos across the globe, particularly in China, to create a broader footprint for One97." SAIF Partners was established with commitments from Cisco and Softbank Corporation of Japan, and has about 60 investments in the region. One97 provides value-added services for telecom

More Stories on : Venture Capital | Software | Telecommunications

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
`Engineering students still prefer IT industry'

Private players gain major share of PCO market

Airtel PCO services in MSRTC buses

IT People Q4 net up at Rs 1.5 cr

New software for service tax returns soon

For a bit more of the `village' feeling in the community

NITK finishing school programme from May 21

CDMA 3G trials by May-end

Infosys alive to domestic market potential

`Warezov virus variant is back'

SAIF invests in One97 Comm

New Fujitsu microcontrollers