Xiaomi has announced that it has invested $25 million in Hungama Digital Media Entertainment. This investment comes alongside its existing investors - Intel Capital, Bessemer Venture partners, and billionaire Rakesh Jhunjhunwala. This is the first time Xiaomi has invested in an Indian company, and plans to integrate content from Hungama’s services onto its platforms, which includes themes and ringtones. The smartphone manufactures says that this shows its strategy to introduce localised internet services to its phones in India, as well as its commitment to the country. Xiaomi claims that over 75% of its smartphones sold in the country are made in India.
Xiaomi VP, Hugo Barra, stated, “We are investing in Hungama not only to start integrating content into our smartphones, but also to grow together with them and deepen our understanding of the content sector in India. We have carefully selected Hungama because of what they are doing in terms of aggregating large amounts of content and delivering an amazing user experience.” Hungama has over 700 content creators, and over 8,000 movies across a range of languages including Hindi, Tamil, Bengali, and more.
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