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Lava raised $90 million from US Fund

Nabanita Dutta

News Editor

Lava International, the Indian phone-maker is planning to raise $90 million from GEM Global Yield Fund to invest in R&D to become a key name in the sub-$150 segments in the Indian market. The company is planning to use the funds to strengthen its business by funding its research and expansion with the aim to become a market leader. Even though its presence is fading, it has made significant investments to ramp up its research.