Xiaomi gets Ratan Tata as investor

Chinese smartphone vendor Xiaomi which has been expanding in India has got Ratan Tata, an Indian Enterpreneur as its investor. In December last year, Xiaomi raised $1.1 bn at a valuation of US$45 billion. Analyst firm IDC ranked the company as the 5th-largest smartphone vendor in India in Q4 2014.

Lei Jun, founder and CEO of Xiaomi, says: “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.”

Tata’s investments in India’s consumer Internet sector include Snapdeal, Urban Ladder, Bluestone and CarDekho. He picked up a small stake in One97 Communications, which owns Paytm, last month. On 23 April, 2015, Xiaomi unveiled a new flagship smartphone Mi 4i in New Delhi.