Altruist Group acquires minority stake in Vegam
Altruist Group takes stake in startup VAS company Vegam Solutions. Vegam will be working to launch voice games and will focus on retailing of VAS.
Mobile VAS provider the Altruist Group (owner of Mobile2Win) recently took up a minority stake in Vegam Solutions, a Mumbai-based start-up VAS company. The stake by the Altruist Group is in the form of seed capital and aimed at helping the start-up take off in the VAS space.
Started by Ingersol Jayakumar, who was the National Business Head for VAS at Tata Teleservices Ltd (Tata Indicom), Vegam focuses on voice based gaming and retailing of VAS.
Commenting on the investment, Rajiv Hiranandani, Executive Director, Altruist Group, said, “Mobile VAS is a dynamic industry, and the objective of this investment is also to get more entrepreneurs into the fold, thereby keeping up the pace of innovation and new ideas.”
“The purpose is to not just provide financial backup to the company, but also technological and infrastructure support. This will help the company get off the ground,” he added.
Ingersol Jayakumar, Founder, Vegam Solutions, said, “Vegam, established in April 2011, aims to reach out to not just the 3G-enabled high-end phones, but the entire audience.”
One of the focus areas of Vegam will be voice games, which would come in five different languages, including Hindi and English. Jayakumar said, “Voice games would revolutionalise the VAS industry as it would reach out to the non-literate mass as well.”
Vegam will launch voice based gaming service with Racing games, Card games, Puzzles and more.
Jayakumar also pointed out that another need in the VAS market was the retailing of VAS. Vegam will focus on creating a hub of all VAS services for all telecom operators.
