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From garage to 100 plus cr turnover and finally acquired by global multi-channel messaging platform mGage: Unicel’s story

Jai Vardhan
12th May 2015
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Global major in mobile multi-channel messaging mGage has acquired Bengaluru-based mobile messaging company Unicel Technologies. Unicel is a market leader providing integrated cloud communications solutions across SMS, Voice, USSD and e-mail platforms in India.

With this acquisition, mGage is now the dominant player in the enterprise mobile marketing and mobile CRM market in India. Equirus Capital served as transaction advisor for this deal.


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Post acquisition mGage will enable more than 60 billion transactions annually. The mGage multi-channel platform serves more than 1,000 blue-chip brands, enterprises and partners through a network of more than 800 mobile operators around the world.

“Success in the mobile engagement market today is dependent on the depth of a company’s solutions, the expertise of its team, and its global scale,” said Jay Sheth, CEO of mGage. “And I am excited that mGage now leads the industry in each of these areas subsequent to the Unicel acquisition.”

mGage’s platform serves both traditional brand marketers as well as customer care organizations within the enterprise, giving companies the ability to reach consumers across the entire customer lifecycle, from acquisition to service to retention.

Vinay Agrrawal, Founder of Unicel, commented, "We are extremely excited to become part of the mGage family and believe that the marriage of the two companies will enable us to deliver even greater value to our customers."

The backstory: Journey from garage to Rs.100 crore venture

After a successful stint at telecom major Aircel, Vinay Agrrawal decided to take the entrepreneurial plunge with Unicel Technologies. Unicel Technologies offers cloud communication solutions across channels like SMS, voice, USSD, including email.

Vinay started Unicel in 2003 with another co-founder in a garage. The startup started its maiden project with erstwhile Hutch in Chennai. However, it was followed by a tough period of two years, which was both mentally and physically exhausting for Vinay.


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Vinay is the alumnus of Symbiosis, Pune, and started his career bang in the middle of the telecom boom in India. Having worked with a telecom operator, Vinay has an in-depth experience of multiple functions in the wireless space — from technology and billing, to value-added services and customer experience.

So far, Unicel provides tailor-made customized solutions specific to different enterprise requirements like Virtual Number Service (VNS), mobile banking, bulk push SMS, general HR communication, media integration, sales force automation, supply chain and fleet management among others.

The startup services over more than 1,000 enterprises across various verticals, including the BFSI, IT, government, retail, manufacturing and distribution, and media among others. Its clientele base includes bigwigs like Accenture, IBM, New York Maxlife, Infosys and Wipro.

Unicel Technologies had posted a turnover of Rs 100 crore in the last fiscal, and plans to achieve growth across levels, with a turnover estimation of Rs 150 crores by 2015 (as per founder during last interaction with YourStory).

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