Ratan Tata Makes Investments In Chinese Smartphone Maker Xiaomi

Ratan Tata has invested an undisclosed amount in China's largest smartphone maker, Xiaomi, making him the first Indian investor in the world's most valued technology startup, which raised $1.1 billion last year.

Xiaomi, the No. 3 global smartphone maker, was valued at $45 billion after a December funding round.

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"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," Lei Jun, founder and CEO of Xiaomi, said in a statement on Sunday, announcing the investment.

Tata'a investment in Xiaomi comes against the backdrop of an aggressive push by Xiaomi in India after entering the market, which has huge growth potential with just one in 10 people using smartphones, in July 2014.

On Thursday, Xiaomi hosted its first global launch outside of China in the Indian capital New Delhi, unveiling its feature-heavy Mi 4i model that supports six Indian languages at 12,999 rupees.

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Xiaomi and other Chinese smartphone makers are drafting in cricket teams and Bollywood stars to conquer India, their largest overseas market and a key testing ground for their international expansion.