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ALW has an impressive track record of creating commercially viable innovative technology solutions that have been hived off as separate entities after receiving investment from renowned investors:
MCHQ (now mChek): Mobile to mobile payment solution developed by ALW was sold off in mid 2006 to an independent SPV formed through a co-investment from Draper Fisher Jurvetson, Rajesh Jain and Dr. Syed A.R. Zaidi (former Angel Investors in ALW)
Go-Mumbai: Low cost contact-less smart cards (branded GO-Mumbai) for automatic fare collection used on high-tech validaters in BEST buses and platforms of local suburban railway stations sold to an independent SPV formed by Khaleej Financial Investments (KFI, Bahrain – now Capivest) in May 2006. Over 600,000 Go-Mumbai cards have been issued in Mumbai until March 2008. ALW continues to retain exclusive rights for use of the Go-Mumbai in NFC mobile phones and Dual Interface SIMs.
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