Indian startups, here’s some good news. Chinese phone maker Xiaomi has announced that it would invest US $1 billion in 100 startups in India over the next five years, seeking to create an ecosystem of apps around its smartphone brand.
Chief executive Lei Jun said in an interview to Live Mint that his company & its sister company Shunwei Capital, which have purchased stakes in 6 Indian Internet companies including Hungama & KrazyBee, will invest in businesses such as Content, financial technology, hyperlocal services, including mobile phone repairs, & manufacturing.
Click here to read the Live Mint article.
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