New Delhi: Xiaomi on Monday announced that it has led a $25 million investment into Hungama Digital Media Entertainment, India's largest digital media entertainment company. Other participants in the round include existing investors Intel Capital, Bessemer Venture Partners, and Indian billionaire Rakesh Jhunjhunwala.
This is the first ever investment that Xiaomi has made in an Indian company. It marks the deepening of Xiaomi's strategy to introduce localised Internet services, in particular content, on its smartphones in India. The move also further solidifies Xiaomi's commitment in India.
Xiaomi entered India in July 2014 and started local manufacturing a year later as a demonstration of its long-term commitment to the Indian market. Currently, over 75 per cent of its smartphones sold in India are made in India.
In the near future, Xiaomi will start integrating Hungama’s content services into its platforms, which will also include themes and ringtones.
"We are investing in Hungama not only to start integrating content into our smartphones, but also to grow together with them and deepen our understanding of the content sector in India. We have carefully selected Hungama because of what they are doing in terms of aggregating large amounts of content and delivering an amazing user experience," said Hugo Barra, vice president, Xiaomi.
Hungama has built partnerships with over 700 content creators, and now has over 8000 movies in Hindi, Tamil, Telugu, Malayalam, Bengali, Punjabi and six other Indian regional languages on its platform.
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