wordpress blog stats
Connect with us

Hi, what are you looking for?

Spice Labs makes ‘strategic investment’ in Exponentially I Mobility

Consumer tech maker Spice Mobility’s subsidiary unit Spice Labs has made a “strategic investment” into Exponentially I Mobility, a company that it says develops and promotes mobile apps, according to Spice Lab’s filing with the stock exchanges. The company did not disclose the size of the deal but added that Spice Labs will now “become a partner with a profit sharing ratio of 28.46%” in Exponentially I Mobility LLC.

According to Zaubacorp, which has details from Exponentially I Mobility LLC’s filings with India’s Registrar of Companies, the company is a partnership firm headed by Dilip Kumar Modi, who is also the current executive chairman of Spice Mobility. What’s interesting, though, is that Exponentially I Mobility had made an undisclosed amount of investment into education and learning app Uolo in June last year, according to TechCircle. So is the company a development firm or an investment company? We could find no other mention of Exponentially I Mobility online, not even a website.

Other investments and deals by Spice

In November last year, Spice Mobility acquired a 100% stake in SVA (Mauritius) through its subsidiary unit Spice VAS Africa Limited. SVA deals with content monetization and supply of IT and software services. In the same month, Spice informed the stock exchanges that it has set up a fully owned IoT subsidiary without providing any detailed information. Apart from this, the company has been stepping up investments in various subsidiaries:

-In June last year, Spice sold a 49% stake in its subsidiary Spice Online to Digitone, a subsidiary firm of Beijing Digital Telecom Company. Beijing Digital said that the stake purchase was valued at $2.5 million.
-In May, Spice Mobility acquired full equity stake in Omniventures and New Spice Solutions, making both companies a wholly owned subsidiary of Spice Mobility.
-In January last year, Spice Mobility had acquired a 22.54% stake in Delhi-based Sunstone Eduversity, in an all-cash deal.
-In July 2015, it had acquired a 26% stake in telecom technology solutions providers Creative Functionapps Lab for an undisclosed amount.

Advertisement. Scroll to continue reading.


During the quarter ended 31st December 2016 (Q3FY17), Spice Mobility’s device business suffered a loss of Rs 3.64 crore, which narrowed down from a loss of Rs 24.53 crore in the same quarter last year, and Rs 5.74 crore in the preceding quarter. Overall revenues stood at Rs 264.12 crore during Q3, with the devices business accounting for 73% of its total revenues.

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



Due to the scale of regulatory and technical challenges, transparency reporting under the IT Rules has gotten off to a rocky start.


Here are possible reasons why Indians are not generating significant IAP revenues despite our download share crossing 30%.


This article addresses the legal and practical ambiguities in understanding the complex crypto ecosystem in India.


It is widely argued that the PDP Bill report seeks to discard the intermediary status of social media platforms but that may not be...


Looking at the definition of health data, it is difficult to verify whether health IDs are covered by the Bill.

You May Also Like


Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...


135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ