Terence Lee · · 1 min readSingTel Innov8 and Mitsui invests US$5M in Cayman-based General Mobile
SingTel Innov8, the wholly-owned corporate venture arm of SingTel, and Mitsui & Co, have jointly invested US$5M in General Mobile, a Cayman-based startup dedicated to providing mobile internet services to emerging markets with its proprietary content management and app store hosting platform.
The money will be used for expansion in the mobile internet markets in emerging countries.
Started in 2011, the company services mobile app developers in developing countries who face technology limitations and fragmentation in the supply chain. It partners with handset manufacturers, handset brands, and mobile content providers to bring relevant apps to users.
With this investment round, Innov8 and Mitsui, a trading, investment and service enterprise, join existing investors like Taiwan-based MediaTek, a mobile chipset and platform provider.
SingTel has been busy acquiring or investing in the mobile space over the past year. Check out our complete coverage of SingTel’s movements.
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