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Matrix Partners India invests in U2opia Mobile

Mumbai, India – September 29, 2011: Matrix Partners India today announced that it has invested as the sole investor in the first institutional round of funding of U2opia Mobile Pte Ltd (U2opia). U2opia creates social applications that help users access their social networks on mobile. “Mobile is clearly the next big catalyst for the social internet. Our product Fonetwish empowers millions of mobile users to stay constantly connected to their social networks without any dependency on the internet. It has a complete consumer value proposition and presents an opportunity that has resonated with Telcos globally. Partnering with an active investor like Matrix gives us the ammunition necessary to grow our talent pool and expand globally. We found Matrix very aligned with us on the opportunities and challenges in this dynamic space. We are excited to forge ahead with their support.” said Sumesh Menon, Co-Founder and CEO, U2opia Mobile Pte Ltd. “We remain excited about the consumer mobile services opportunity in India and believe that mobile will be integral to the growth of social media in India. We are excited to be associated with Sumesh, Ankit and the team at U2opia and have been impressed by what they have been able to accomplish in a short period of time. We look forward to partnering with them on their journey.” said Rishi Navani, Managing Director, Matrix India. About U2opia Mobile Private Limited: U2opia Mobile, a Singapore based company, is a social applications developer with a focus on mobile experience. U2opia Mobile utilizes among other technologies, the core GSM protocol – USSD – to allow access to ‘anyphone’, anywhere, anytime. The Company’s application Fonetwish, allows users to access the popular social networking sites like Facebook without the need of a data connection, using the popular USSD platform to enable a handset agnostic and ubiquitous access to Facebook. A pioneering effort, the application already has a reach of 300+ million users globally. The company was founded in 2010 and has a presence across India, South East Asia, Africa and the Middle East. About Matrix Partners India: Matrix Partners India is an investment firm with INR 3,000 crore under management. The firm invests in companies targeting the Indian domestic market with a sector independent investment strategy focused on generating exceptional returns. The firm invests up to US $30 million in a company depending on its stage of development and has invested in several companies including Center for Sight (eye care chain), Muthoot Finance (gold loan NBFC), Quikr (online classifieds), Tree House Education (preschool and K-12 schools), and Ver se Innovation (mobile classifieds) among others. Matrix Partners has a global network of funds investing in the US, China and India with US $3 billion under management. Further information is available at www.matrixpartners.in

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