PORTLAND, Ore. – Tyfone Inc., a developer of computer software and hardware for mobile banking and retail merchant services, has received an undisclosed amount of venture capital funding from Ojas Venture Partners. The latter is a Bangalore-based firm that specializes in funding technology start-ups.

Portland-based Tyfone said it will use the investment to grow its three areas of business – mobile banking, mobile payments (including contactless payments) and retail merchant relationship services in the United States and abroad. The company will continue to increase the size of its global sales and operations teams, including its operations in China. 

“Tyfone’s patented technology is intriguing and unique in its approach to mobile financial services,” said Nadathur S. Raghavan, a co-founder and former joint managing director of Infosys Technologies Ltd., and member of the Ojas Venture Partners board of directors. “In addition, the mature and pragmatic management team plans to execute well and lead the space. By utilizing its breakthrough technologies and leveraging key partner strengths, Tyfone is positioned to grow quickly in 2008.”