Xiaomi leads $25m investment in Indian digital content supplier

Smartphone giant Xiaomi Corp is making its first investment in an Indian company, leading a $25 million cash injection into Hungama Digital Media Entertainment, an online provider of music and video content.

Hugo Barra, Xiaomi's vice-president, said the move is part of the company's strategy to introduce local entertainment content and services onto its smartphones in the country.

Hungama's existing investors Intel Capital, Bessemer Venture Partners and Indian billionaire Rakesh Jhunjhunwala, are also part of the investment round.