Jio Platform had been getting a lot of attention from US companies with Google being the latest to invest a large fortune in the Indian tech company in exchange for 7.7% stake.
The company had earlier this week made it known it will be investing as much as US$10 billion in India over the next five to seven years and the new US$4.5 billion in Jio makes more than 45% of that promised total investment in the country’s tech market.
With the new investment from Google, Reliance Jio had been able to raise as high as US$20 billion this year allowing the company to give up 33% of it’s stakes to investors.
Mukesh Ambani, Chairman of Reliance, said that with this investment, it’s closing this round of raising money.
Qualcomm is one of the most recent investor in the company taking only 0.15% stake in the company after investing US$97 million. Intel also invested.
