Ratan Tata invests in Xiaomi - Days after hosting its first g- Navbharat Times Photodhamal

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Days after hosting its first global smartphone launch in India, Chinese smart devices-maker Xiaomi has announced that Ratan Tata, chairman emeritus of Tata Sons, has made an investment in the company.

In This Pic : ratan tata, Munu Jain, Hugo Barra

Pic Courtesy : BCCL - Non Copyright

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The news was first shared by Hugo Barra, vice president of international for Xiaomi and the company's official Indian accounts on social networks.

In This Pic : Hugo Barra

Pic Courtesy : BCCL

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This is the first investment by any Indian in the company. However, monetary details of the investment have not been revealed.

In This Pic : Xiaomi

Pic Courtesy : BCCL - Non Copyright

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Indian billionaires are increasingly investing in mobile and internet related technology ventures. It's worth mentioning that last month Ratan Tata had invested in mobile payments and commerce venture Paytm, picking up a small stake in One97 Communications, which owns and operates the company. In August 2014, Ratan Tata had invested in e-tailer Snapdeal in his personal capacity. Tata's previous investments in India's consumer internet sector include Urban Ladder, Bluestone and CarDekho.

In This Pic : ratan tata

Pic Courtesy : BCCL

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In March, Premji Invest, the family office of Wipro's billionaire chairman Azim Premji, had led an $80-million round of funding in US-based mobile operating system startup Cyanogen, whose founder claims his objective is to create a Google-less Android and "put a bullet through Google's head."

In This Pic : Azim Premji

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