SingTel Innov8 (Innov8), the wholly-owned corporate venture arm of the SingTel Group, has invested in General Mobile Corporation (General Mobile), announced the Cayman-based company today.
According to a statement by General Mobile, it has secured US$5million in funding from Innov8 and Mitsui & Co. (Mitsui).
General Mobile Corporation focuses on mobile platform operation and mobile Internet service, with offices in Taipei, Shanghai and Shenzhen.
The mobile company stated that it plans to use the proceeds (investments) to expand and fund future growth in the fast growing mobile Internet business in the emerging markets.
With this round of investment, Innov8 and Mitsui join existing investors such as Taiwan-based MediaTek Inc., said the mobile technology company.
"The opportunities are huge and close cooperation among all players from the value chain is key to successfully running a mobile Internet business in the emerging markets," said Paul Wu, CEO of General Mobile.
"General Mobile's solution addresses the strong demands for mobile application and services seen by emerging market mobile users across our footprint," said CEO of Innov8, Edgar Hardless. "We look forward to working with the company to build and expand on their success to date."
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