Reliance Ports, M&M becomes shareholders of LocaModa

Chennai: Mahindra and Mahindra and Mukesh Ambani-owned Reliance Ports and Terminals Ltd have invested in a US-based company LocaModa Inc.

The US company, which is a developer of location-based text-messaging services, has raised $6.18 million in Series A funding.

Shareholders include Mahindra & Mahindra, Reliance Ports and Terminals, and Dace Ventures, reports PEHub.com quoting a regulatory filing in the US.

LocaModa Inc is a privately held company, registered in Delaware and headquartered in Massachusetts.

It is founded by Mr Stephen Randall, a former EV-P/Founder of Symbian. LocaModa’s platform makes out-of-home networks in retail and social places interactive, and connects them to the Web.

Consumers in social or retail environments can use their phones to interact with digital signage that has been mobile-enabled.

Using ubiquitous SMS and IVR systems, LocaModa’s platform makes a “remote control” out of any phone, on any carrier, says the company Web site.