Mr. Tata is one of the most well-respected business leaders in the world. An investment by him is an affirmation of the strategy we have undertaken in India so far. We are looking forward to bringing more products into India," said Lei Jun, Founder and Chief Executive Officer of Xiaomi.
There are no details available on how much money Tata has invested in the company that entered India last July but has already gained enough of a foothold to become the fifth-largest smartphone vendor in the country. Xiaomi was reportedly valued at over $45 billion in its last round of funding.
"We're incredibly honoured by this extraordinary vote of confidence. Mr Tata is very excited about Xiaomi and our plans for India, and we're really looking forward to working with him as an investor and advisor to build Mi India as a truly Indian company!," Xiaomi Vice President Global Hugo Barra said on Facebook.
"We want to become an Indian company. That is why we are building an R&D team here and setting up data centre. We want to manufacture and also invest in start ups in India," Lin said.
"This is a very proud moment for all of us at @Xiaomi, especially @MiIndiaOfficial team," Xiaomi India head Manu Jain tweeted. "There can not be a better mentor than Mr. Tata himself who can help us build a truly Indian company," he added.
On Thursday, Xiaomi unveiled the Mi 4i smartphone at an event in New Delhi, the company's first big launch event outside of its homeland China.
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