Home » News » Azingo to raise Rs 200 cr for acquisitions in India

The best way to stay in touch with PuneTech and associated activities is to subscribe and receive most recent updates in your email inbox or via RSS. And, if you are looking for special interest groups, Click here. See our About Page to find out more about what PuneTech is.

Like to chat with PuneTech's founder? Connect now!

Azingo to raise Rs 200 cr for acquisitions in India

LiMo FoundationImage by mtlin via Flickr

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

Zemanta Pixie

If you liked this post, subscribe for updates by email or via RSS.

Comments

2 responses to Azingo to raise Rs 200 cr for acquisitions in India

  1. stupid me says:

    doubt they ever did that… given the economic climate now with job losses and all no one will want to buy a phone…

  2. humanbeing says:

    Yes, infact they laid off more than 1/3rd people in November…

Leave a Reply
Your email address will not be published. All fields marked * are mandatory.


Allowed tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Notify me of followup comments via e-mail. You can also subscribe without commenting.