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ValueFirst raises $6 Million from NEA
By siliconindia
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New Delhi: To boost its expansion plans, Gurgaon based ValueFirst Messaging, a mobile value added services (VAS) firm, has raised $6 million from the U.S. based venture capital firm New Enterprise Associates (NEA). "We have been in the business for five years and expanding rapidly. The funds will help us scale up our operations across India and abroad and recruit new heads," said ValueFirst CEO Vishwadeep Bajaj.
The VAS firm, which currently offers SMS-based services, plans to introduce internet and voice-based services for the mobile platform in India, as reported by The Economic Times. It also plans to double its workforce to around 390 by the end of next fiscal and enhance its presence in 35 cities in India.
The firm plans to foray into other countries in East Africa and Middle East in the next few months. The quantum of stakes picked by the NEA has not been disclosed.