Messaging company, ValueFirst has raised 70 Crores (~$15million) from New Enterprise Associates (NEA) and The Headland Asian Ventures Fund 3 Limited (HAV3).
As per Vfirst, the funds will be utilised to fuel growth through acquisitions in India (and overseas) to offer a device and platform agnostic approach to its clients through offerings in SMS, Voice, USSD, WAP, Media and Apps.
The company recently changed its brand identity and earlier ValueFirst acquired CellNext, Tagg.in, invested in Indyarocks and had raised $6mn from NEA (Feb 2009).
Good timing? Well, the whole bulk SMS industry is shaken up owing to TRAI’s NCPR guideline
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