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Alibaba injects US$100M into VMate to expand India presence

Alibaba Group Holding Ltd. has injected funds worth more than US$100 million into Indian short video app VMate, KrAsia reported, citing 36Kr.

UCWeb President Zhu Shunyan said Alibaba will act as an external investor for VMate and will not rely on "spending big to gain market share" for VMate, saying that the Indian market needs to be explored cautiously, according to the report.

In addition, VMate will also join Alibaba's Innovative Business Group.

VMate was launched in India in 2017 by Alibaba's subsidiary, UCWeb Inc.