Tuesday, January 13, 2009

Intel Capital Invests in India's One97 for Telecom App Platform

One97 Communications, which delivers telecom applications and services to consumers, enterprises and telecom operators in India, has secured second round of funding. Avendus Capital was the exclusive financial advisor for the transaction. The company had earlier received funding from SAIF Partners & SVB in 2007.

The focus of company is to enable telecom networks in becoming the best and most used media to deliver content, information and intelligent transactions to consumers. One97 said its application platform currently reaches 97% of mobile subscribers in India. Every month 200 million unique telecom subscribers perform over 1.5 billion transactions on this platform using Voice, SMS and WAP applications.

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