Azingo to raise Rs 200 cr for acquisitions in India
Azingo, a mobile platform development company, which provides a full Linux-based mobile stack, as well as services, (and which has a development center in Pune), is planning to raise Rs 200 cr in a Series-B funding from US-based private equity firm Garnett Helfrich Capital and a few other VCs.
Azingo, one of the core members of UK-headquartered LIMO Foundation, a not-for-profit organisation dedicated to creating an open, hardware-independent, Linux-based operating system for mobile devices, helps the foundation’s 55 members, including nine tier-I operators like Verizon, Orange, SK Telecom and Soft Bank Mobile, to develop, integrate and tests its Mobile Linux software platform.
“Our Mobile Linux operating system is currently in the beta stage and we are in the process of commercialising the technology. The funds will be utilised to build applications for service and delivery to large operators and vendors, besides scaling up our workforce in India through the inorganic growth route,” Azingo’s chief executive officer Mahesh Veerina told Business Standard.
Veerina said they had identified a couple of companies in India and abroad that could bring in engineering talent, mobile application development, intellectual property IP or customer relations. It expected to wrap up the buyout deal in the next six to nine months. Azingo currently has 300 engineers working out of its Hyderabad and Pune centres. It will add close to 700 engineers in the country in the next one year.
Source Azingo to raise Rs 200 cr
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