Investing firm, Mumbai Angels has invested in mobile applications developing firm, Onward Mobility, which offers its services under the brand name, MOBI.

The company also offers its applications across 3,500 retail outlets. With the new fund infusion, Onward Mobility plans to expand its product portfolio as well as launch more services in the consumer as well as enterprise space.

Amit Grover, Mumbai Angels, commented on the occasion, "Onward Mobility's team strength and unique distribution strategy will enable more consumers to experience the mobile applications, which is currently limited by internet penetration. With more competition and increasing penetration, mobile applications market in particular is expected to grow over the next 4-5 years.

From Mumbai Angels, Vikas Choudhuri and Vivek Nathwani have joined the Board of Onward Mobility, while Rajiv Dadlani will be a Board Observer.

"We are extremely happy to take investment from Mumbai Angels" said Arun Menon, CEO of Onward Mobility.

Mumbai Angels is also an investor in Apalya Technologies which specializes in offering, mobile video services.