Over $447 million in funding raised by 22 Indian startups last week
The Indian startups continued to raise funds at a normal pace, and last week, 22 startups secured over $447 million in the country.
With a 9 per cent market share, China-based Transsion Holdings’ Itel Mobile registered a 217 per cent growth in India in 2016-2017, the company said on Saturday.
Itel Mobile entered the Indian market in April 2016.
“The reason behind itel Mobile’s continued success in the Indian market is its dynamic expansion strategy that focuses on meeting existing market requirements through relevant solutions,” Marco Ma, Managing Director, Transsion India, said in a statement.
Advertisement
“We have been building an extensive portfolio of feature-driven 4G-enabled smartphones, differentiated service offerings and a strong post-sale experience.”
A latest report from CyberMedia Research (CMR) highlighted Itel Mobile as one of the few mobile brands observed to have a strong upwards trajectory in 2017 despite market fluctuations.
Transsion Holdings has 92,000 retail outlets and over 1,000 channel partners in the country.
Advertisement