IMImobile to invest $3 mn in Hyderadad unit

Mobile Value Added Services (VAS) provider IMImobile will invest $3 million in India and increase its headcount to around 300 personnel in the next couple of years.

The Hyderabad-based company is also planning to set up a convergence laboratory in the city and is in talks with global telecom players to provide and manage VAS solutions.

"The investments are being infused to upgrade the facility to a world-class one so as to create leading edge technologies in mobile applications and VAS space. IMImobile has recently concluded a second round of private placement of $3 million from London-based venture capital firm, Spark Plc, which will be infused for this expansion plans," IMIMobile Executive Director Jayesh Patel said. The company is also considering additional offers of financing to further expand its operations, he said.

IMIMobile will add another 100 employees to take its total headcount to around 300 in the next two years. Of the total 200 personnel presently employed with the company, around 100 of them are engineers, while the rest being software and marketing professionals.

It will also set up a convergence lab in the city within a year that will rollout new VAS products and services. The lab will target both local and in international companies. However, Patel did not disclose the investments earmarked for the lab.

It is also planning to tie up with telecom providers in South Asia, United Kingdom, Middle East, Singapore and Latin America. Presently, it has tie-ups with operators including Dialog in Sri Lanka, Emtel in Mauritius and TSTT in Trinidad & Tobago.