Ratan Tata’s personal investments into new-age tech companies have just gone international. Xiaomi, the over $40 Billion valued Chinese smartphone manufacturer has announced that Ratan Tata has made an investment in the company. And like Ratan Tata’s previous investments, further details about the investment have not yet revealed.
The news about the investment were revealed by the company’s Vice President of International Markets, Hugo Barra and then by the official social media accounts of Xiaomi. This is the first investment in the company coming from an Indian.
Announcing about the investment, Hugo Barra wrote on Facebook:
We’re really excited to announce our newest Xiaomi investor — Ratan Tata, Chairman Emeritus of Tata Sons. We’re incredibly honored by this extraordinary vote of confidence. Tata is very excited about Xiaomi and our plans for India, and we’re really looking forward to working with him as an investor and advisor!
Lei Jun, founder and CEO of Xiaomi, said,
Mr. Tata is one of the most well-respected business leaders in the world. An investment by him is an affirmation of the strategy we have undertaken in India so far. This is just the start of an exciting journey, and we are looking forward to bringing more products into India.”
We’re really excited to announce our newest Xiaomi investor — Mr Ratan Tata, Chairman Emeritus of Tata Sons.
— Hugo Barra (@hbarra) April 26, 2015
Till now, Xiaomi has received $1.4 billion in six rounds of funding from DST Global, CST, Qualcomm Ventures, Morningside Group, HOPU Investment Management company and QiMing Venture Partners. In December 2014, it raised funding at a valuation to the North of $45 billion.
Ratan Tata, on the other hand, has been an active investor in new-age tech and digital companies. He picked up a small stake in One97 Communications, parent company of PayTM. His investment portfolio includes Snapdeal, Urban Ladder, Bluestone and CarDekho.com.
Xiaomi recently launched a new flagship smartphone, customised for India, the Mi 4i at a Global launch event in New Delhi. After China, India is the biggest international market for Xiaomi.