IMImobile has closed a $13 million round of financing. The financing round was led by Sequoia Capital India and includes participation from existing investor FirstMark Capital.
The significance for European venture is that IMImobile is the largest portfolio investment of SPARK Ventures, the UK-based early stage VC. SPARK did not participate in this round of financing but already holds a 28% stake in IMImobile, with a book value of £13 million. Sequoia already has interests in india including SKS Microfinance and Naukri.com.
IMImobile provides converged mobile and online value-added services for mobile operators, media companies and enterprises. The profitable company has 40 operator customers in 66 countries.