Developer of Aakash Tablet Raises $28M from IPO

WINDS OF CHANGE: DataWind, developer of the low-cost Aakash tablet, has raised $30 million Canadian dollars (US $28 million) on the Toronto Stock Exchange. The company made headlines back in 2011 when it announced a $35 Aakash tablet designed for students in underdeveloped parts of the world, beginning with India. (It has also been piloted in schools in the U.S.) That project has gone through a fair share of ups and downs, but that's not stopping the company from attempting another ambitious mission: "leverage existing cellular telephony networks to deliver affordable Internet to 93% of the world population." More details in the press release.

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