Leading Chinese phone-maker Xiaomi has just confirmed that Ratan Tata has made an investment in the company. This is the first investment by an Indian in the company. Amount was investment was not disclosed.
Xiaomi raised $1.1 Bn at $45Bn valuation last year from All-Stars Investment, Yuri Milner’s DST, GIC, Hopu Fund and Yunfeng Capital.
Hugo Bara confirmed this investment in tweet.
We’re really excited to announce our newest Xiaomi investor — Mr Ratan Tata, Chairman Emeritus of Tata Sons.
— Hugo Barra (@hbarra) April 26, 2015
Lei Jun, founder and CEO of Xiaomi, says: “Mr. Tata is one of the most well-respected business leaders in the world. An investment by him is an affirmation of the strategy we have undertaken in India so far. This is just the start of an exciting journey, and we are looking forward to bringing more products into India.”
Xiaomi is growing rapidly and it is now 5th largest smartphone company of the world. India is very big market for the company after China. And future of the company is bright. This is the reason why Ratan Tata took interest in the company.
Last week, Xiaomi launched its first ‘made for India’ smartphone Xiaomi Mi 4i for Rs 12,999. This smartphone offers powerful hardware configurations at this price. Xiaomi Mi 4i
