Mig33 raises $8.9 million to expand in India
Moneylife Digital Team 09 November 2010

Mobile social network Mig33 has raised $8.9 million in Series C funding led by Indonesian telecom entrepreneur Sugiono Wiyono Sugialam and Japanese social networking firm Gree Inc. Mig33 was also supported by existing investors Accel Partners, Redpoint Ventures and DCM.

In May 2007, Accel Partners and Redpoint first invested $10 million in Mig33. In January 2008, Mig33 closed a $13.5 million round led by DCM and joined by Accel and Redpoint. With this Series C round, Mig33's total funding so far rises to $34 million. The Singapore-headquartered service now has 40 million members and reaches 200 countries.

The funding will be used to expand its service in more emerging markets such as South Africa and India and will also use it to develop its monetisation channel.

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